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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: LTK007 who wrote (56730)4/25/2002 5:41:05 PM
From: Softechie  Read Replies (1) of 99280
 
GIS General Mills warns for Q4 (45.30 -3.77)
Now sees Q4 earnings per share of approximately $0.25 vs the current consensus estimate of $0.44 per share. Fiscal 2002 earnings per share before unusual items are expected to total approximately $1.70 vs the current consensus estimate of $1.94 per share; note that stock sold off during regular session on concerns over a meeting with analysts which it cancelled (see 12:46 ET comment).

WHAMMMOOOO! Minneapolis friend was right on...

General Mills Guidance -2: Street Sees 4Q Net 43c/Shr

25 Apr 17:44

MINNEAPOLIS (Dow Jones)--General Mills Inc. (GIS) slashed its fiscal fourth
quarter and 2002 estimates, due to lower-than-expected unit volume trends
through the first two months of the quarter.

In a press release Thursday, the food-products company said it now expects
fourth quarter earnings before items of 25 cents a share and full-year earnings
excluding items of about $1.70 a share, well below its earlier guidance and
Wall Street expectations.

In late March, General Mills said it was on track to meet its fiscal 2002
annual objective of $1.90 to $1.93 a share, excluding items, and projected
fourth quarter earnings of 43 cents to 45 cents a share.

A current Thomson Financial/First Call surveyof 16 analysts produced a mean
earnings estimate of 43 cents a share for the fourth quarter and $1.91 a share
for 2002.


(MORE) DOW JONES NEWS 04-25-02
05:44 PM
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