General Mills' (GIS) CEO Ken Powell on Q3 2016 Results - Earnings Call Transcript

Mar. 23, 2016 2:10 PM ETGeneral Mills, Inc. (GIS)
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General Mills, Inc. (NYSE:GIS) Q3 2016 Earnings Conference Call March 23, 2016 8:30 AM ET


Jeff Siemon – Investor Relations

Don Mulligan – Chief Financial Officer

Jeff Harmening – Chief Operating Officer-U.S. Retail Segment

Ken Powell – Chief Executive Officer


David Driscoll – Citigroup

Matthew Grainger – Morgan Stanley

Ken Goldman – JPMorgan

Michael Lavery – CLSA

Jason English – Goldman Sachs

Eric Katzman – Deutsche Bank

John Baumgartner – Wells Fargo

Chris Growe – Stifel


Ladies and gentlemen, thank you for standing by. Welcome to the General Mills’ Third Quarter 2016 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded Wednesday, March 23, 2016.

I would now like to turn the conference over to Jeff Siemon, Director of Investor Relations. Please go ahead, sir.

Jeff Siemon

Thanks, Denise, and good morning, everyone. I’m here with Ken Powell, our CEO; Don Mulligan, our CFO; and Jeff Harmening, Chief Operating Officer for our U.S. Retail Segment. I’ll turn the call over to them in just a minute, but first let me cover my usual housekeeping items.

A press release on third quarter results was issued over the wire services earlier this morning, is also posted on our website, and you can find slides on our website that supplement this morning’s presentation. Our remarks will include forward-looking statements that are based on management’s current views and assumptions. And the second slide in today’s presentation lists factors that could cause our future results to be different than our current estimates.

And with that I’ll turn you over to my colleagues, beginning with Don.

Don Mulligan

Thanks, Jeff. Good morning, everyone. Thank you for joining us today. As noted in our press release, General Mills’ third

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