Gear Up for General Mills (GIS) Q2 Earnings: Wall Street Estimates for Key Metrics

The upcoming report from General Mills (GIS) is expected to reveal quarterly earnings of $1.02 per share, indicating a decline of 27.1% compared to the year-ago period. Analysts forecast revenues of $4.78 billion, representing a decline of 8.8% year over year.The current level reflects a downward revision of 0.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.Bearing this in mind, let's now explore the average estimates of specific General Mills metrics that are commonly monitored and projected by Wall Street analysts.The average prediction of analysts places 'Net Sales- North America Foodservice' at $591.85 million. The estimate indicates a change of -6.1% from the prior-year quarter.Analysts expect 'Net Sales- International' to come in at $709.94 million. The estimate suggests a change of +2.8% year over year.Analysts' assessment points toward 'Net Sales- North America Pet' reaching $652.01 million. The estimate indicates a change of +9.4% from the prior-year quarter.The consensus estimate for 'Net Sales- North America Retail' stands at $2.84 billion. The estimate suggests a change of -14.6% year over year.Analysts predict that the 'Operating Profit- North America Retail' will reach $649.77 million. The estimate compares to the year-ago value of $862.30 million.The collective assessment of analysts points to an estimated 'Operating Profit- International' of $18.24 million. The estimate compares to the year-ago value of $23.80 million.The consensus among analysts is that 'Operating Profit- North America Pet' will reach $125.77 million. The estimate compares to the year-ago value of $139.30 million.It is projected by analysts that the 'Operating Profit- North America Foodservice' will reach $110.90 million. The estimate compares to the year-ago value of $118.50 million. View all Key Company Metrics for General Mills here>>> Over the past month, shares of General Mills have returned -2.3% versus the Zacks S&P 500 composite's +0.9% change. Currently, GIS carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Mills, Inc. (GIS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks