General Mills First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component General Mills, Inc. (NYSE:GIS) will unveil its latest earnings on Wednesday, September 21, 2011. General Mills, Inc. is the manufacturer and marketer of branded consumer foods sold through retail stores. It also supplies branded and unbranded food products to the food service and commercial baking industries.

General Mills, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 62 cents per share, a decline of 3.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 69 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 62 cents during the last month. For the year, analysts are projecting net income of $2.61 per share, a rise of 5.2% from last year.

Past Earnings Performance: The company has fallen in line with estimates the last two quarters. In the fourth quarter of the last fiscal year, it reported profit of 52 cents per share and two quarters ago booked net income of 56 cents.

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Wall St. Revenue Expectations: On average, analysts predict $3.8 billion in revenue this quarter, a rise of 7.6% from the year ago quarter. Analysts are forecasting total revenue of $16.38 billion for the year, a rise of 10.1% from last year’s revenue of $14.88 billion.

Analyst Ratings: 11 out of 18 analysts surveyed (61.1%) have a buy rating on General Mills.. This is below the mean analyst rating of nine competitors, which average 62.4% buy ratings.

Key Stats:

The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 51.1% while it rose 17.9% in the third quarter of the last fiscal year and 8.6% in the second quarter of the last fiscal year.

The company’s revenue has now risen for two straight quarters. In fourth quarter of the last fiscal year, revenue increased 1.8% to $3.63 billion from the year earlier quarter. In the third quarter of the last fiscal year, the figure rose 0.5%.

Competitors to Watch: Ralcorp Holdings, Inc. (NYSE:RAH), Kellogg Company (NYSE:K), Kraft Foods Inc. (NYSE:KFT), ConAgra Foods, Inc. (NYSE:CAG), Diamond Foods, Inc. (NASDAQ:DMND), The Hain Celestial Group, Inc. (NASDAQ:HAIN), The Hershey Company (NYSE:HSY), Nestle SA Reg Shs. Ser. B Spons (NSRGY), TreeHouse Foods Inc. (NYSE:THS), Slancho AD Svishtov (SLR), and Pepsico Inc (NYSE:PEP).

Stock Price Performance: During August 17, 2011 to September 15, 2011, the stock price had risen $1.07 (2.9%) from $36.73 to $37.80. The stock price saw one of its best stretches over the last year between August 10, 2011 and August 17, 2011 when shares rose for six-straight days, rising 5.1% (+$1.78) over that span. It saw one of its worst periods between January 20, 2011 and February 1, 2011 when shares fell for nine-straight days, falling 6.8% (-$2.48) over that span. Shares are up $3.04 (+8.7%) year to date.

(Source: Xignite Financials)

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.