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General Mills'(GIS Quote) fourth-quarter earnings fell sharply from a gain-swollen year-ago period, but the cereal maker still matched Wall Street forecasts.
The company earned $222 million, or 61 cents a share, in the quarter, compared with $460 million, or $1.14 a share, a year ago. Last year's quarter had a gain of $284 million related to the sale of Lloyd's refrigerated meat and a European snacks venture. Analysts were forecasting earnings of 61 cents a share in the most recent period.
Sales rose 5%, to $2.85 billion, beating the consensus estimate of $2.80 billion, while unit volume rose 3%. ...
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