General Mills, Inc. (NYSE:GIS) early Tuesday posted [Mar 21, 2017 | 7:01am] mixed fiscal third quarter earnings results and reiterated its previously announced full-year outlook.

Written by StockNews.com

The Minneapolis-based packaged foods giant reported Q3 earnings per share (EPS) of $0.72, which was $0.01 better than the Wall Street consensus estimate of $0.71.

Revenues fell 5.2% from last year to $3.79 billion, however, missing analysts’ view for $3.82 billion.

On another sour note, GIS said that operating profit margin fell 30 basis points to 14.3%.

Looking ahead, General Mills reaffirmed its previously announced full-year 2017 earnings guidance for 5% to 7% EPS growth. That estimate equates to EPS of $3.07 to $3.12, which is ahead of Wall Street’s view for $3.06.

GIS also continues to expect 2017 organic net sales to decline by about 4%.

The company commented via press release:

General Mills is committed to pursuing its strategy of Consumer First and leveraging its five global platforms – cereal, snacks, yogurt, convenient meals, and super-premium ice cream – along with its new global organizational structure to create market-leading growth. The company believes that generating a balance of topline growth and margin expansion, while maintaining disciplined focus on cash conversion and cash returns, is critical to delivering top-tier shareholder returns.

Many packaged foods makers have struggled lately with changing consumer tastes and higher input costs. Cereal, for example, used to be a staple of American breakfasts, but has take a back seat in recent years to other products like Greek yogurt. Companies like GIS have responded by changing their product mix and making key acquisitions in spaces that are expected to see stronger growth in coming years.

…Year-to-date, GIS has declined -1.69%, versus a 5.92% rise in the benchmark S&P 500 index during the same period.

GIS currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #35 of 62 stocks in the Food Makers category.