$GIS (General Mills, Inc.)

$GIS {{ '2015-12-17T14:01:01+0000' | timeago}} • Webcast

$GIS's constant currency international profit rose 19% in 2Q16. The company expects interest expense to be down mid single digit for FY16. Reported effective tax rate was 37.4% for 2Q16, up 6 points YoverY, driven by the tax impact of Green Giant divestiture. $GIS expects FY16 tax rate to be comparable to last year.

$GIS {{ '2017-06-28T13:49:17+0000' | timeago}} • Webcast

$GIS said it's focused more on topline growth in FY18 and the intent is to grow the topline by 200-300 BP, while continuing to grow margins.

$GIS {{ '2017-06-28T13:14:02+0000' | timeago}} • Webcast

$GIS expects to expand its adjusted operating profit margin in FY18, while interest expense and adjusted tax rate is expected to be in line with FY17 levels. $GIS is targeting a net reduction of 1-2% in average diluted shares outstanding in FY18 and is also targeting to convert more than 95% of its adjusted after tax earnings to free cash flow.

$GIS {{ '2017-06-28T12:55:08+0000' | timeago}} • Webcast

$GIS stated that with the changes to is global structure and supply chain being completed, the company expects to get back to executional excellence in FY18. The company added that these efforts would deliver 200-300 BP improvement in its net sales trends in 2018 vs. the 2017 results.

$GIS {{ '2017-06-28T12:26:51+0000' | timeago}} • Infographic

$GIS General Mills Earnings AlphaGraphic: Q4 2017 Highlights

$GIS {{ '2017-06-28T11:36:34+0000' | timeago}} • Announcement

For FY18, $GIS expects organic net sales to decline 1-2% and constant-currency adjusted diluted EPS is expected to increase 1-2% from the base of $3.08 earned in FY17. Additionally on a constant-currency basis, total segment operating profit is expected to be in a range between flat and up 1%.

$GIS {{ '2017-06-28T11:33:53+0000' | timeago}} • Announcement

$GIS BoD declared a quarterly dividend of $0.49 per share. The dividend is payable Aug. 1, 2017, to shareholders of record July 10, 2017.

$GIS {{ '2017-06-28T11:32:21+0000' | timeago}} • Announcement

For 4Q17, $GIS' Europe & Australia segment net sales declined 14% YoY, driven by the comparison to the year-ago period which included an extra month of results for Yoplait Europe. However, Asia & Latin America segment net sales rose 10% due to an extra month of results reported for Brazil. Convenience Stores & Foodservice net sales remained flat.

$GIS {{ '2017-06-28T11:27:55+0000' | timeago}} • Announcement

$GIS' 4Q17 North America Retail segment net sales totaled $2.39Bil, down 3% YoY, hurt mainly by double-digit declines in the U.S. Yogurt operating unit. Organic net sales also declined 4%. However, segment operating profit rose 9% mainly due to benefits from price realization and lower advertising and media expenses.

$GIS {{ '2017-06-28T11:23:14+0000' | timeago}} • Announcement

Manufacturer and marketer of branded consumer foods $GIS reported a 7.71% increase in earnings for 4Q17 despite a sales decline, helped by higher operating profit. Net earnings was $408.9MM or $0.69 per share, up from $379.6MM or $0.62 per share a year ago. Net sales declined 3.1% to $3.80Bil. Adjusted EPS in constant currency was $0.73 per share.

$GIS {{ '2017-06-21T16:16:19+0000' | timeago}} • Announcement

$GIS appointed Ivan Pollard as global CMO, effective July 10, 2017. He was most recently SVP, strategic marketing for $KO North America. Pollard will be accountable for establishing $GIS' first global marketing and media planning function responsible for marketing strategies, connections planning, and building organizational capabilities globally.

$GIS {{ '2017-05-03T14:19:57+0000' | timeago}} • Announcement

$GIS elected Jeffrey Harmening as its CEO, effective June 1, 2017. The board also elected Harmening to its BoD. Harmening succeeds Ken Powell, who will continue to serve as its Chairman for a transition period until his retirement within next year. Harmening joined General Mills in 1994 and has served in a variety of roles.

$GIS {{ '2017-03-21T14:19:26+0000' | timeago}} • Webcast

$GIS said that it is not going to increase the level of the promotion in 4Q17. Promotion will be down year-over-year and will be down a lot less than it was before. In terms of retail environment, the company added that the private label categories are almost down in all categories year-on-year.

$GIS {{ '2017-03-21T14:07:16+0000' | timeago}} • Webcast

$GIS stated that reduction in incentive accrual helped the cost savings in 3Q17. The expense reduction is about $40MM in the year without factoring in the company's planning for next year.

$GIS {{ '2017-03-21T13:56:41+0000' | timeago}} • Infographic

$GIS General Mills Earnings AlphaGraphics:Q3 2017 Highlights

$GIS {{ '2017-03-21T13:36:34+0000' | timeago}} • Webcast

In FY17, $GIS estimates natural organic brands to generate more than $1Bil in net sales in the North America retail segment. In 4Q17, the company plans to increase the promotion activity with in-store and consumer events tied to Easter. Despite the challenging operating environment in Latin America, $GIS expects performance improvement in 4Q17.

$GIS {{ '2017-03-21T13:08:06+0000' | timeago}} • Webcast

For 4Q17, $GIS expects net sales growth in Europe and Australia segment to be negatively impacted by the comparison to a year ago period. Asia and Latin America segment is expected to benefit from an extra month of reported results for Brazil. The combination of these two impacts will be a modest headwind to organic net sales growth.

$GIS {{ '2017-03-21T13:04:05+0000' | timeago}} • Webcast

$GIS expects core working capital to improve in 4Q17 and be a source of cash for FY17, helped by further benefit from payroll. For 4Q17, the company expects modest improvement in organic net sales trends driven by the trade and consumer support from North America retail business and the continued growth in Europe and China.

$GIS {{ '2017-03-21T12:42:45+0000' | timeago}} • Announcement

$GIS reported 5% decrease in net sales to $3.79Bil in 3Q17 primarily due to gaps in pricing and promotional activity in key U.S. businesses. Net earnings attributable to $GIS totaled $358MM, compared to $361MM last year. However, EPS was up 3.4% to $0.61 due to lower tax rate and fewer outstanding shares. Excluding items, EPS was $0.72.

$GIS {{ '2017-03-21T12:41:25+0000' | timeago}} • Announcement

$GIS said combined after-tax earnings from Cereal Partners Worldwide (CPW) and Haagen-Dazs Japan (HDJ) joint ventures totaled $11MM in 3Q17, down 32% due to an asset write-off for CPW and lower volume for HDJ. Net sales for CPW grew 4% and that for HDJ declined 5%, both in constant currency.

$GIS {{ '2017-03-21T12:37:03+0000' | timeago}} • Announcement

Net sales for $GIS' Europe & Australia segment totaled $424MM in 3Q17, down 3% from the prior-year, driven by unfavorable foreign currency exchange. In Asia & Latin America, net sales were $421MM, matching year-ago results.

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