General Mills 2Q profit falls - KWWL - Eastern Iowa Breaking News, Weather, Closings

General Mills 2Q profit falls

GOLDEN VALLEY, Minn. (AP) -- General Mills says its second-quarter profit fell 3 percent but adjusted results beat expectations as costs of key ingredients moderated.

The Golden Valley, Minn.-based company said Wednesday earnings fell 3 percent to $378.2 million, or $1.09 per share, from $390.5 million, or $1.14 cents per share, last year. Revenue rose 8 percent to $4.01 billion.

Excluding charges on commodity positions and a gain from the sale of its Pop Secret microwave popcorn business, profit was $1.36 cents per share.

Analysts, who typically exclude one-time items, had predicted profit of $1.23 per share on revenue of $4 billion.

The company now expects earnings of $3.83 to $3.87 per share in fiscal 2009, up from $3.81 to $3.85 per share. Analysts expect $3.89 per share.

  • NEWSNEWSMore>>

  • Father-son killed in plane crash lived in Iowa City

    Father-son killed in plane crash lived in Iowa City

    Monday, September 24 2018 10:00 PM EDT2018-09-25 02:00:51 GMT

    A celebration of life will be held in Iowa City, on Tuesday, for the father and son that were killed in plane crash in eastern Missouri. 

    More >>

    A celebration of life will be held in Iowa City, on Tuesday, for the father and son that were killed in plane crash in eastern Missouri. 

    More >>
  • radar alert

    TRACKING: Storm Chances through Tuesday

    TRACKING: Storm Chances through Tuesday

    Monday, September 24 2018 9:20 PM EDT2018-09-25 01:20:53 GMT

    Storm chances return tonight with strong storms possible Tuesday afternoon.

    More >>

    Storm chances return tonight with strong storms possible Tuesday afternoon.

    More >>
  • Cedar Rapids sees major flood level for second time in September

    Cedar Rapids sees major flood level for second time in September

    Monday, September 24 2018 8:05 PM EDT2018-09-25 00:05:21 GMT

    The city has prepared to protect areas along the river up to 18 feet by plugging manholes, adding additional sewer pumps and putting up Hesko Barriers on the west side of the river.

    More >>

    The city has prepared to protect areas along the river up to 18 feet by plugging manholes, adding additional sewer pumps and putting up Hesko Barriers on the west side of the river.

    More >>
Powered by Frankly