Gen. Mills Reaffirms 2011 Outlook, Below Estimates

The company's fiscal 2011 per-share expectation of between $2.46 and $2.48 falls short of analyst expectations of $2.49 per share.

Golden Valley-based General Mills, Inc., on Thursday reaffirmed its 2011 fiscal-year guidance, which came in below analyst expectations.

The company said it expects earnings to range between $2.46 per share and $2.48 per share for the 2011 fiscal year ending in May-below the $2.49 per share that is expected by analysts who follow the company.

In its Thursday presentation at the Morningstar Stocks Forum, the company said that it expects to see continuing growth in China with net sales increasing to $900 million by its 2015 fiscal year. General Mills reported revenue of $350 million in China in its 2010 fiscal year.

The company didn't go into specifics about its revenue, but said it expects low single-digit net sales growth and mid single-digit segment operating profit growth.

It also said it expects double-digit shareholder return for the year.

Shares of the company's stock were up slightly-0.14 percent-at market close on Friday.

General Mills is Minnesota's seventh-largest public company based on its fiscal-year 2009 revenue, which totaled $14.7 billion. The company reported $14.8 billion in revenue for its 2010 fiscal year.