Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  General Mills, Inc.    GIS

News SummaryMost relevantAll newsSector newsTweets

General Mills : Lowers Sales, Profit Forecast

share with twitter share with LinkedIn share with facebook
share via e-mail
02/17/2017 | 08:56am EDT
By Joshua Jamerson 

General Mills Inc. on Friday cut its already-downbeat sales and earnings forecast for its current year on weaker-than-expected sales U.S. yogurt and soup, further underscoring the company's challenges with soft consumer demand.

The company's stock skidded 4.4% to $58.85 in premarket trading.

The lowered outlook comes after the Minneapolis-based food giant already gave a grim performance projection as it struggles to win back consumers who have ditched traditional processed foods like its Yoplait yogurt for more natural alternatives. In December, the company said faltering sales of yogurt, Progresso soup and Pillsbury dough in the U.S. pushed the food giant's second-quarter profit down 9%.

General Mills now expects organic net sales for its current year, which ends in May, to fall 4% due to "a widening gap between the company's level of promotional activity and that of competitors in the U.S. yogurt and soup categories." The company previously projected an organic revenue decline of 3% to 4%.

General Mills said it now expected adjusted earnings growth of 5% to 7% from $2.92 in the prior year, down from a previous growth forecast of 6% to 8%. Analysts polled by Thomson Reuters projected full-year earnings of $3.08 a share.

General Mills executives have said the industry remains challenging, as U.S. food and beverage sales growth has steadily eroded over the past five quarters. Lower food costs and other savings had for a while helped General Mills and its peers deliver solid earnings despite the lower sales, but analysts have been concerned sales declines are catching up with the cost reductions.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on GENERAL MILLS, INC.
07/20 GENERAL MILLS : Box Tops for Education™ survey reveals top family summer a..
07/20 GENERAL MILLS : Patent Application Titled "Reduced Sugar Pre-Sweetened Breakfast..
07/12 GENERAL MILLS : Details Fiscal 18 Global Priorities At Company's Annual Investor..
07/11 GENERAL MILLS : new products meet global demand for simplicity; Signs wind power..
07/10 GENERAL MILLS : New Products Meet Global Demand for Simplicity
07/07DJSO LONG, CHEF BOYARDEE : Old Food Brands Struggle -2-
07/07DJSO LONG, CHEF BOYARDEE : Old Food Brands Struggle -- WSJ
07/06DJSO LONG, HAMBURGER HELPER : America's Venerable -2-
07/06DJSO LONG, HAMBURGER HELPER : America's Venerable Food Brands Are Struggling
07/06 EARNINGS REVIEW AND FREE RESEARCH RE : General Mills’ Q4 Results Outperfor..
More news
News from SeekingAlpha
07/26 'Safer' Dividend Contender Dogs Paced By Brinker Gains In July
07/25 My 5 Dividend Champions Worth Holding For Decades
07/25 BEST STOCK MARKET ADVICE :  Buy Low, Sell High
07/24 Recent Stock Purchase July 2017
07/23 My 4 Keys To DGI Stock Picking
Financials ($)
Sales 2018 15 337 M
EBIT 2018 2 817 M
Net income 2018 1 817 M
Debt 2018 6 867 M
Yield 2018 3,63%
P/E ratio 2018 17,89
P/E ratio 2019 17,19
EV / Sales 2018 2,52x
EV / Sales 2019 2,51x
Capitalization 31 816 M
Duration : Period :
General Mills, Inc. Technical Analysis Chart | GIS | US3703341046 | 4-Traders
Technical analysis trends GENERAL MILLS, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 19
Average target price 56,8 $
Spread / Average Target 3,0%
EPS Revisions
Jeffrey L. Harmening Chief Executive Officer
Kendall J. Powell Chairman
Donal Leo Mulligan Chief Financial Officer & Executive Vice President
Peter C. Erickson Executive VP-Innovation, Technology & Quality
Stephen A. Odland Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GENERAL MILLS, INC.-10.77%31 816
NESTLÉ12.46%269 485
DANONE6.98%50 709