MINNEAPOLIS — Packaged food giant General Mills Inc. said Thursday it expects first-quarter earnings to surpass analysts' estimates.
The maker of Cheerios and Chex cereals as well as Betty Crocker cake mix anticipates net income of 81 cents per share, which includes $13 million in pretax restructuring costs.
Analysts surveyed by Thomson Financial predict a first-quarter profit of 76 cents per share. Analysts usually exclude one-time items from their estimates.
General Mills forecast quarterly revenue will top its long-term target of low single-digit growth. The estimate includes a 5 percent sales increase for Big G cereals.
Read the full Associated Press story here.
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