Dec. 17, 2015, 7:03 AM
- General Mills (NYSE:GIS): FQ2 EPS of $0.82 misses by $0.01.
- Revenue of $4.42B (-6.2% Y/Y) misses by $190M.
Dec. 16, 2015, 5:30 PM
Dec. 16, 2015, 2:40 PM
- Yogurt sales have picked up dramatically in the U.S., according to fresh Nielsen data. The trend is toward accelerating growth.
- 4-week growth: +9.2% Y/Y.
- 13-week growth: +7.4% Y/Y.
- 26-week growth: +6.1% Y/Y.
- Making the strongest move with market share is Chobani, up to its highest percentage ever of total U.S. yogurt sales at 19.4%. The Chopani Flip brand has been a strong driver of the recent growth. Chobani was a hot IPO prospect before running into some growing pains on the manufacturing side.
- Dannon (OTCQX:DANOY) and Yoplait (NYSE:GIS) are both making strides as well at the expense of smaller brands.
- The strong pick-up in yogurt sales missed the PepsiCo-Muller JV which announced its exit from the category earlier this week.
Dec. 15, 2015, 3:02 PM
- General Mills (GIS +0.3%) announces it reached 20% salt reduction goals in seven categories out of ten. Some of the sodium levels are over 30% lower.
- The last three categories - Ready to Serve Soup, Mexican Dinners, and Cereal - are just a shade under the 20% mark.
Dec. 15, 2015, 9:33 AM
- Egg prices fell 4.8% in November to follow a 3.8% slide in October.
- The level of egg prices is still 23.7% higher than a year ago, due largely to the avian flu issue earlier this year.
- Milk prices were also lower during November, down 0.7% M/M and 7.7% Y/Y. The broader dairy category saw price declines of 3.4% Y/Y and 0.6% M/M.
- These are some of the companies that talked about milk or egg prices being a factor during their most recent earnings conference call: CALM, KO, DF, WWAV, GIS, POST, KR, DG, OTCPK:PRRFY, BDBD, GTIM, BOBE, HRL, FLO, JJSF, DENN, MCD.
- BLS CPI data
Dec. 11, 2015, 9:28 AM
- PepsiCo (NYSE:PEP) pulled the plug on a yogurt joint venture with Muller aimed at the U.S. market due to weak sales.
- The JV has already unloaded a dairy plant in New York for an undisclosed amount.
- The U.S. market is dominated by Yoplait (NYSE:GIS), Danone (OTCQX:DANOY) through Stonyfield and Dannon, and privately-owned Chobani. Plenty of smaller organic and premium brands are nipping at the fringes.
Nov. 30, 2015, 2:10 PM
Oct. 22, 2015, 9:22 AM
- General Mills (NYSE:GIS) announces it created a new business unit designed to invest in emerging food brands.
- 301 Inc. will give early stage food companies a crack at seed capital.
- The strategy is a bit of a break for General Mills which has tended to build new brands from the ground up in the past.
Oct. 6, 2015, 11:13 AM
- General Mills (GIS -1.4%) trades lower after an embarrassing product recall that is making some viral waves.
- The company is being forced to pull back 1.8M boxes of gluten-free Cheerios and Honey Nut Cheerios made with wheat flour by mistake.
- On a corporate blog post, General Mills cereal business president Jim Murphy said the mishap occurred due to human error at a plant in California. He stressed that the oat supply itself was not the issue.
- Sale of gluten-free cereal products has outpaced overall cereal sales as more consumers with wheat allergies enter the category.
Oct. 6, 2015, 8:20 AM
Sep. 29, 2015, 4:25 PM
- General Mills (NYSE:GIS) declares $0.44/share quarterly dividend, in line with previous.
- Forward yield 3.17%
- Payable Nov. 2; for shareholders of record Oct. 12; ex-div Oct. 8.
Sep. 25, 2015, 2:04 PM
- Packaged food stocks are ahead of broad market averages for the day. There are some consistent themes playing out in the sector which have increased interest in select names. Topping the list are M&A potential, activist investor action, and good old-fashioned fundamental valuation.
- Gainers: Treehouse Foods (NYSE:THS) +3.1%, B&G Foods (NYSE:BGS) +2.9%, ConAgra Foods (NYSE:CAG) +2.7%, Kellogg (NYSE:K) +2.6%, General Mills (NYSE:GIS) +2.3%, Campbell Soup (NYSE:CPB) +2.3%, J.M. Smucker (NYSE:SJM) +1.6%.
Sep. 22, 2015, 11:19 AM
- Shares of General Mills (GIS -0.1%) are mildly lower amid a broad market decline after the company reported FQ1 earnings.
- Analyst think the food giant has turned a corner of sorts as it looks past "inefficient promotions" to focus on organic trends and the Annie's integration.
- Gross margin rate improved during the quarter off an easy compare as cost-cutting offset some sales deleverage.
- The real test for General Mills for the balance of the fiscal year will be to turn around its cereal business where results have been soggy.During the earnings call, CEO Ken Powell said consumer response to the new Gluten-Free Cheerios has been positive.
- General Mills earnings call webcast
- Previously: General Mills beats by $0.10, misses on revenue (Sep. 22 2015)
- Previously: More on General Mills' FQ1 (Sep. 22 2015)
Sep. 22, 2015, 7:40 AM
- General Mills (NYSE:GIS) reports net sales rose 4% on a constant currency basis in FQ1.
- U.S. Retail sales increased 3.6% to $2.53B and operating profit +37.7% to $629.7M.
- International sales declined 11.3% to $1.20B and operating profit -19.9% to $117M.
- Convenience Stores and Foodservice sales grew 1% to $477.7M and operating profit -8.6% to $79.8M.
- Annie's business contributed 2 percentage points of growth to the total sales and 3 points of growth to the U.S. retail segment.
- Adjusted gross margin rate +290 bps to 37.7%.
- SG&A expense rate improved 100 bps to 19.3%.
- Adjusted operating profit rate rose 390 bps to 18.4%.
- FY2016 Guidance: Segment operating profit: to grow at a low single-digit rate on constant currency basis; Adjusted EPS: to grow at a mid-single-digit rate Y/Y on constant currency basis.
Sep. 22, 2015, 7:06 AM
- General Mills (NYSE:GIS): FQ1 EPS of $0.79 beats by $0.10.
- Revenue of $4.21B (-1.4% Y/Y) misses by $40M.
Sep. 21, 2015, 5:30 PM
General Mills, Inc. is a manufacturer and marketer of branded consumer foods sold through retail stores. It also supplies branded and unbranded food products to the foodservice and commercial baking industries. The company operates through three reportable business segments: U.S. Retail,... More
Sector: Consumer Goods
Industry: Processed & Packaged Goods
Country: United States