real-time news and commentary for investors
Wednesday, Dec 19
2012, 11:09 AM
Heard on the General Mills (GIS -1%) earnings call: 1) Cost inflation pegged at 2% to 3% for...
Heard on the General Mills (GIS -1%) earnings call: 1) Cost inflation pegged at 2% to 3% for FY13. 2) During FQ2, the Small Planet Foods segment and Snacks segments contributed the strongest segment growth, while Yoplait's pace declined compared to last year. 3) International momentum is still "robust" while tax rates and interest rates also played in the company's favor. Looking forward, Venezuela and "back-loaded" inflation are headwinds which could hit gross margins. 4) Pressed on commodity costs, execs say a bulk of the firm's commodity needs for FY13 are already covered. (webcast, slides)