Countdown to General Mills (GIS) Q2 Earnings: Wall Street Forecasts for Key Metrics

In its upcoming report, General Mills (GIS) is predicted by Wall Street analysts to post quarterly earnings of $1.22 per share, reflecting a decline of 2.4% compared to the same period last year. Revenues are forecasted to be $5.16 billion, representing a year-over-year increase of 0.5%.The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions 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.Given this perspective, it's time to examine the average forecasts of specific General Mills metrics that are routinely monitored and predicted by Wall Street analysts.The average prediction of analysts places 'Net Sales- North America Foodservice' at $599.50 million. The estimate suggests a change of +3% year over year.It is projected by analysts that the 'Net Sales- International' will reach $713.92 million. The estimate suggests a change of +4.5% year over year.The consensus estimate for 'Net Sales- Pet' stands at $566.81 million. The estimate suggests a change of -0.4% year over year.Based on the collective assessment of analysts, 'Net Sales- North America Retail' should arrive at $3.29 billion. The estimate points to a change of -0.6% from the year-ago quarter.Analysts expect 'Operating Profit- North America Retail' to come in at $833.27 million. Compared to the current estimate, the company reported $859.90 million in the same quarter of the previous year.The collective assessment of analysts points to an estimated 'Operating Profit- International' of $30.31 million. The estimate compares to the year-ago value of $34.60 million.Analysts' assessment points toward 'Operating Profit- Pet' reaching $110.71 million. Compared to the present estimate, the company reported $102.50 million in the same quarter last year.According to the collective judgment of analysts, 'Operating Profit- North America Foodservice' should come in at $97.52 million. The estimate is in contrast to the year-ago figure of $95.50 million.View all Key Company Metrics for General Mills here>>>Over the past month, shares of General Mills have returned +2.1% versus the Zacks S&P 500 composite's +1.3% 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 >>>>Free Report: 5 Clean Energy Stocks with Massive UpsideEnergy is the backbone of our economy. It’s a multi-trillion dollar industry that has created some of the world’s largest and most profitable companies.Now state-of-the-art technology is paving the way for clean energy sources to overtake “old-fashioned” fossil fuels. Trillions of dollars are already pouring into clean energy initiatives, from solar power to hydrogen fuel cells.Emerging leaders from this space could be some of the most exciting stocks in your portfolio.Download Nuclear to Solar: 5 Stocks Powering the Future to see Zacks’ top picks free today.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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks