MINNEAPOLIS — General Mills Inc. today reported fiscal fourth-quarter net income of $416.8 million.
The company said it had profit of 68 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to 91 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.52 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $4.33 billion.
For the year, the company reported profit of $2.34 billion, or $3.78 per share. Revenue was reported as $18.13 billion.
General Mills shares have risen 2% since the beginning of the year, while the S&P’s 500 index has increased 14%. The stock has fallen 1% in the past 12 months.