Key facts
- General Mills exceeded fourth-quarter profit estimates.
- The company reported adjusted earnings per share of 95 cents.
- Analyst consensus estimates were 80 cents per share.
General Mills announced on Wednesday that it surpassed fourth-quarter profit estimates, benefiting from a shift in consumer behavior towards eating at home. This trend boosted demand for the company's staple products, including breakfast cereals and pantry items.
On an adjusted basis, the company reported a quarterly profit per share of 95 cents. This figure exceeded the average analyst estimate of 80 cents, according to data compiled by LSEG.