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General Mills Revenue Declines

|Includes:General Mills, Inc. (GIS)

Originally published at

Filing in Focus: General Mills 8-K, March 14, 2014

General Mills, Inc. (NYSE:GIS) announced its financial results for the third fiscal quarter of 2014 while also updating its fiscal 2014 outlook. The packaged-foods maker reported a 1.2% decrease in net sales to $4.38B while its gross margin improved from 34.4% to 34.6% thanks to a 1.5% decline in input costs. Earnings improved from the year-ago $398.4M and $0.60 per share to $410.6M and $0.64 per share however adjusted earnings per share fell from $0.66 to $0.62. Comparing performance to analyst estimates, the company fell short on predicted $4.43B revenue while meetings its own adjusted earnings expectations. Chairman and CEO Ken Powell remarked that the severe winter weather affected sales across the food industry and that the company's performance was included in that negative effect.

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Stocks: GIS