General Mills (GIS) stock pops on raised guidance

Shares of General Mills (NYSE: GIS) are trading about 2% higher in pre-market Tuesday after the company hiked its full-year forecast.

Speaking at the event in New York, General Mills’ management noted strong recent results, which paved the way for an increase in full-year guidance. The adjusted EPS is now seen growing 7-8%, up from the prior +4-6% range.

Full-year organic net sales are projected to rise 10%, a more optimistic outlook relative to the prior range of +8-9% and higher than the consensus of 8.65%.

“With the consistent execution of its Accelerate strategy, General Mills is well-positioned to continue driving profitable growth and top-tier returns for its shareholders in the years to come,” GIS said in a press release.

General Mills shares were down 8.4% year-to-date (YTD) based on Friday’s closing price of $76.77 per share.

By Senad Karaahmetovic

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