Gear Up for General Mills (GIS) Q3 Earnings: Wall Street Estimates for Key Metrics

In its upcoming report, General Mills (GIS) is predicted by Wall Street analysts to post quarterly earnings of $0.95 per share, reflecting a decline of 18.8% compared to the same period last year. Revenues are forecasted to be $4.96 billion, representing a year-over-year decrease of 2.8%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 2.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.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.Analysts forecast 'Net Sales- North America Foodservice' to reach $576.36 million. The estimate indicates a year-over-year change of +4.5%.The combined assessment of analysts suggests that 'Net Sales- International' will likely reach $686.85 million. The estimate indicates a year-over-year change of +1%.The consensus among analysts is that 'Net Sales- North America Pet' will reach $636.11 million. The estimate indicates a year-over-year change of +1.9%.It is projected by analysts that the 'Net Sales- North America Retail' will reach $3.07 billion. The estimate points to a change of -5.3% from the year-ago quarter.Based on the collective assessment of analysts, 'Operating Profit- North America Retail' should arrive at $671.69 million. The estimate compares to the year-ago value of $752.20 million.According to the collective judgment of analysts, 'Operating Profit- International' should come in at $20.31 million. The estimate compares to the year-ago value of $18.20 million.Analysts predict that the 'Operating Profit- North America Pet' will reach $131.74 million. Compared to the current estimate, the company reported $128.30 million in the same quarter of the previous year.Analysts' assessment points toward 'Operating Profit- North America Foodservice' reaching $88.74 million. Compared to the present estimate, the company reported $81.70 million in the same quarter last year.View all Key Company Metrics for General Mills here>>>General Mills shares have witnessed a change of +0.5% in the past month, in contrast to the Zacks S&P 500 composite's -9.6% move. With a Zacks Rank #3 (Hold), GIS is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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