DOW JONES NEWSWIRES
General Mills Co. (GIS) said fiscal first-quarter earnings are
estimated to have topped the company's internal projections,
calling the results a "strong start" to the year.
The packaged-food giant wasn't more specific, but said results
were helped by rebounding margins, which were pressured last year
by higher grains and other costs.
The mean estimate of analysts surveyed by Thomson Reuters was
for earnings of $1.02 a share for the quarter ended Aug. 30.
General Mills made the disclosure ahead of an analyst gathering
this morning in Boston
The company in June posted better-than-expected results in its
fiscal fourth quarter and boosted its outlook for the current year,
citing moderating raw material prices and internal efforts to cut
costs.
General Mills is due to report its first quarter results Sept.
23.
Shares rose 0.5% in premarket trading to $60.84. The stock is
flat for the year.
-By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354;
kevin.kingsbury@dowjones.com