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GIS

General Mills, Inc.

6/19/2013, 7:29 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Monday, June 10, 5:12 PM General Mills (GIS) +1.5% AH after stating it expects FY13 (ended in May) EPS of $2.68-$2.69. That's better than a prior range of $2.66-$2.68, but below a $2.70 consensus. The processed food giant is also reiterating its guidance for high-single-digit EPS growth and "increased cash returns to shareholders" in FY14. FQ4 results are due on June 26. (PR) Comment! [Consumer, Earnings]
Thursday, May 30, 10:50 AM More from General Mills (GIS) at the Citi Global Consumer Conference (previous): The rise of Greek yogurt has cut into results for the company's Yoplait brand, with sales actually falling off slightly for the fiscal year just ended. To reverse the decline, the General Mills will introduce 40 new yogurt products and increase its advertising spend on the category. (webcast) 4 Comments [Consumer]
Thursday, May 30, 7:35 AM General Mills (GIS) says it's on track to meet its previously-issued guidance for 2013 and that it expects to see high single-digit EPS growth in 2014. The company released the information as part of its presentation at the Citi Global Consumer Conference. (webcast) Comment! [Consumer]
Monday, May 20, 5:46 PM After-hours top gainers, as of 5:15 p.m.: LXP +5.7%. JASO +2.9%. EVF +2.8%. GIS +2.5%. RAD +2.5%.
After-hours top losers: KOS -11.9%. HGG -9.1%. ABX -6.7%. RGLD -5.4%. TAHO -5.1%. Comment! [On the Move]
Friday, May 10, 12:58 PM The corn crop could be bigger than originally forecast as farmers in the U.S. Corn Belt delay planting to take advantage of a huge amount of rainfall this spring in the Midwest. The USDA said in its monthly forecast released today it expects a stockpile of 2.004B bushels of corn, above the analyst estimate of 1.973B bushels. The read-through of lower corn prices to U.S. companies is far-reaching, but a few food concerns to watch for potential margin relief include Buffalo Wild Wings (BWLD +1.1%), General Mills (GIS +0.3%), Kellogg (K +0.4%), Campbell Soup (CPB +0.1%), PepsiCo (PEP +0.1%), Coca-Cola (KO -0.3%), and Post Holdings (POST +0.5%). (USDA report) Comment! [Consumer, Commodities]
Tuesday, April 16, 1:15 PM Private label brand breakthrough: A survey released by Deloitte on brand loyalty could rattle the food and grocery sectors as a whopping 94% of consumers indicate they will stick with private-label or store brands instead of reverting back to costlier options. Industry insiders think even if the economy comes roaring back, a paradigm shift of consumer attitudes toward food purchases may already be entrenched. The trend could favor Treehouse Foods (THS), Safeway (SWY), Kroger (KR), Costco (COST), Whole Foods Market (WFM) - while creating a headache for Kellogg (K), Post Holdings (POST), Campbell Soup (CPB), Kraft Foods (KRFT), and General Mills (GIS). 10 Comments [Consumer]
Tuesday, April 9, 8:58 AM McDonald's (MCD) reduces its prices on chicken nuggets in China in reaction to demand worries tied to the H7N9 bird virus, according to information culled from Weibo. Analysts warn that both McDonald's and Yum Brands (YUM) could see a short-term demand slump as the headlines out of China become more alarming. What to watch: If the local chicken market suffers large supply disruptions, General Mills (GIS) subsidiary Wan Chai Ferry and Tyson Foods (TSN) could pick up the slack. Comment! [Consumer, Global & FX]
Monday, April 1, 1:53 PM Commodity input costs for food companies could be lower in Q2 if the trend of lower prices on corn, wheat, and soybean sustains. What to watch: Though the sector is getting tagged as overbought and the Heinz premium hanging over it could wear out, improving margins might be enough to take General Mills (GIS -1.4%), Kellogg (K -0.8%), J.M. Smucker (SJM -0.3%), and Campbell Soup (CPB +0.4%) to even greater heights this year. Comment! [Consumer]
Monday, April 1, 8:38 AM Morgan Stanley downgrades General Mills (GIS) to Equal-Weight from Overweight on a valuation call after shares rang up a 22% Q1 gain. The firm sees sluggish progress in key categories. GIS -0.9% premarket. Comment! [Consumer, On the Move]
Thursday, March 28, 1:59 PM A trend to watch: The sharpest drop in corn prices in nine months on a higher-than-expected tally of domestic corn inventories could bode well for a number of food companies expecting to see high commodity costs. Though the implications can be broad if lower corn prices take hold, a few firms which might see a margin kick include General Mills (GIS +0.6%), PepsiCo (PEP +0.6%), Coca-Cola (KO +0.3%), Post Holdings (POST +1%), and Kellogg (K -0.3%). 5 Comments [Consumer]
Wednesday, March 27, 9:54 AM Argus raises its rating on General Mills (GIS) to a Buy rating from Hold. Related: (Has the rally in consumer staples stocks run its course?) 4 Comments [Consumer]
Wednesday, March 27, 8:39 AM Has the rally in consumer staples (XLP) stocks run its course? A group of large well-known defensive stocks have been on the offensive in 2013 with all-time highs falling left and right to stretch some valuations beyond historic norms. Though upgrades on the sector are still piling in, skeptics are advising investors to tread carefully. On watch: PG, CLX, KO, K, GIS, CL, BUD, EL. 3 Comments [Consumer, Quick Ideas]
Wednesday, March 20, 9:11 AM Heard during General Mills' (GIS) earnings call: 1) Execs say pricing and promotions should remain stable with the exception of the highly-competitive cereal category. 2) Greek yogurt is a star performer again. Look for new product innovation in FY13. 3) For the moment, share buybacks and dividends are a priority over M&A with the company cooling off its pace of global acquisitions. (webcast) Comment! [Consumer]
Wednesday, March 20, 8:34 AM Heard during General Mills' (GIS) earnings call: 1) The company notes it expects to see higher supply chains costs on higher merchandising levels in FQ4. 2) By division, Small Planet Foods and Snacks saw a double-digit gain in FQ3 U.S. sales while Big G, Frozen Foods, and Yoplait all saw sales slip during the quarter. 3) Channel growth in 2013 is forecast to be led by convenience stores (+6%) and healthcare (+5%). 4) For FY13, a mid single-digit pace for sales growth and profit growth is forecast. GIS -0.3% premarket. (webcast) Comment! [Consumer]
Wednesday, March 20, 7:13 AM More on General Mills' FQ3 (GIS): Gains in profits were led by the U.S. Retail and Bakeries and Foodservice segments, each up over 180 bps as a percentage of sales. The U.S. Retail segment grew 2% Y/Y to $2.66B with both net price realization and mix contributing. International sales were up 24% to $1.3B inclusive of new businesses. The company sees Q4 EPS of $0.64-$0.70 vs. $0.57 consensus and full-year EPS of $2.66-$2.68 vs. $2.68 consensus. (PR) Comment! [Consumer, Earnings]
Wednesday, March 20, 7:02 AM General Mills (GIS): FQ3 EPS of $0.64 beats by $0.07. Revenue of $4.43B (+8% Y/Y) beats by $0.07B. (PR) Comment! [Earnings, Breaking News]

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