General Mills IncGeneral Mills missed EBITDA and EPS estimates, with revenues down 8.4% year on year.
Shelf-stable food stocks delivered mixed first-quarter results, with General Mills reporting revenues of $4.44 billion, down 8.4% year on year and in line with expectations, but missing analysts' EBITDA and EPS estimates. Among the 17 companies tracked, aggregate revenues matched consensus while next-quarter revenue guidance came in 1.8% below expectations. Hershey stood out with revenues of $3.10 billion, up 10.6% year on year and beating estimates by 2.4%, while BellRing Brands was the weakest, posting revenues of $598.7 million, up 1.8% but missing expectations by 1.7% and issuing full-year EBITDA guidance below forecasts. Conagra reported revenues of $2.79 billion, down 1.9% and slightly ahead of estimates, and McCormick recorded the fastest revenue growth among peers with revenues of $1.87 billion, up 16.7% and beating estimates by 5.1%. On average, share prices of the group have fallen 6.4% since the latest earnings results.
General Mills IncGeneral Mills missed EBITDA and EPS estimates, with revenues down 8.4% year on year.
Bellring Brands LLCBellRing Brands missed revenue estimates and issued full-year EBITDA guidance below forecasts.
Hershey CoHershey beat revenue estimates by 2.4% with 10.6% year-on-year growth.
McCormick & Company IncorporatedMcCormick recorded fastest revenue growth among peers, up 16.7% and beating estimates by 5.1%.
Conagra Brands, Inc.Conagra reported revenues slightly ahead of estimates but down 1.9% year on year; mixed results.