General Mills, Inc. (NYSE:GIS) shares are trading marginally lower on Wednesday.
The company reported first-quarter adjusted earnings per share of $1.07 (down 2%), beating the street view of $1.06. Quarterly revenues of $4.85 billion outpaced the analyst consensus estimate of $4.801 billion.
The quarterly earnings were affected by lower adjusted operating profit, higher net interest expense, and a higher adjusted effective tax rate.
Net sales fell by 1%, while organic net sales also decreased by 1%, driven by unfavorable organic net price realization and mix.
“We strengthened our core by delivering more remarkable experiences to consumers, which translated into improved volume, net sales, and market share trends versus the previous quarter,” said General ...
