General Mills shares rose 2% due to a change in forecasts
2023.02.21 09:06
General Mills shares rose 2% due to a change in forecasts
By Ray Johnson
Budrigannews.com – General Mills (NYSE:) shares are up about 2% in pre-market trading Tuesday following the company’s increase in its full-year forecast.
The management of General Mills gave a speech at the event in New York and mentioned the company’s recent strong results, which paved the way for an increase in full-year guidance. From the previous range of +4-6%, the adjusted EPS is now expected to grow by 7-8%.
Organic net sales are expected to rise 10% for the year, which is higher than the consensus of 8.65 percent and is more optimistic than the previous range of +8-9%.
In a press release, GIS stated, “General Mills is well-positioned to continue driving profitable growth and top-tier returns for its shareholders in the years to come” with the consistent execution of its Accelerate strategy.
Based on Friday’s closing price of $76.77 per share, General Mills shares were down 8.4% year-to-date (YTD).
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