General Mills, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended February 25, 2024
March 20, 2024 at 07:00 am EDT
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General Mills, Inc. reported earnings results for the third quarter and nine months ended February 25, 2024. For the third quarter, the company reported sales was USD 5,099.2 million compared to USD 5,125.9 million a year ago. Net income was USD 670.1 million compared to USD 553.1 million a year ago. Basic earnings per share from continuing operations was USD 1.18 compared to USD 0.94 a year ago. Diluted earnings per share from continuing operations was USD 1.17 compared to USD 0.92 a year ago.
For the nine months, sales was USD 15,143.3 million compared to USD 15,064.2 million a year ago. Net income was USD 1,939.1 million compared to USD 1,979 million a year ago. Basic earnings per share from continuing operations was USD 3.35 compared to USD 3.32 a year ago. Diluted earnings per share from continuing operations was USD 3.33 compared to USD 3.28 a year ago.
General Mills, Inc. is one of the world's leaders in food groups. The group proposes cereal of breakfast, prepared meals, frozen vegetables, pizzas frozen, pasta ready for use, yoghurt, desserts, sauces, etc. notably under brands Cheerios, Pillsbury, Green Giant, Old El Paso, Progresso, Wheaties, Häagen-Dazs, Nature Valley, Betty Crocker and Wanchai Ferry. In addition, General Mills, Inc. sells pet food. The activity is organized around two markets:
- consumer distribution;
- catering and bakery: sale of products to restaurants, to bakeries, operators of vending machines and dishes as well as to cafeterias of schools and companies.
The United States account for 77.4% of net sales.