Shelf-Stable Food Stocks Mixed in Q1 as General Mills Misses Estimates

Earnings
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Summary · why it matters

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.

Impact on stocks 5

Consumer Staples± Mixed · 5 stocks
General Mills Inc
GIS
▼ NegativeCapitalrelevance

General Mills missed EBITDA and EPS estimates, with revenues down 8.4% year on year.

Bellring Brands LLC
BRBR
▼ NegativeCapitalrelevance

BellRing Brands missed revenue estimates and issued full-year EBITDA guidance below forecasts.

Hershey Co
HSY
▲ PositiveCapitalrelevance

Hershey beat revenue estimates by 2.4% with 10.6% year-on-year growth.

Conagra Brands, Inc.
CAG
± MixedCapitalrelevance

Conagra reported revenues slightly ahead of estimates but down 1.9% year on year; mixed results.