General Mills Q4 Profit Decreases, but beats estimates

(RTTNews) - General Mills (GIS) released a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $614.9 million, or $1.03 per share. This compares with $822.8 million, or $1.35 per share, in last year's fourth quarter.

Excluding items, General Mills reported adjusted earnings of $1.12 per share for the period.

Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.9% to $5.03 billion from $4.89 billion last year.

General Mills earnings at a glance (GAAP) :

-Earnings (Q4): $614.9 Mln. vs. $822.8 Mln. last year. -EPS (Q4): $1.03 vs. $1.35 last year. -Analyst Estimates: $1.07 -Revenue (Q4): $5.03 Bln vs. $4.89 Bln last year.