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General Mills Inc  (GIS)
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    Sector  Consumer Non Cyclical    Industry Food Processing
 
 

EARNINGS REPORT by CSIMarket

Income Increased by 10.79 %, Sales Lower


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General Mills Inc announced forth quarter 2017 operating income of $609.2 millions, company raises it's earnings guidance.



Despite soft demand in the forth quarter 2017, company managed to increase it's earnings per share, eps grew by 10.79 % to $0.69 per share while Sales fell by -3.09 % to $3.81 billions, year on year.

Looking into results from previous quarter Sales increased by 0.35 % from $3.79 billions and income per share increased by 12.8 % from $0.61 per share.
Sales fell at International -11.26%, while revenue growth was achieved at U.S. Retail +3.56%, Bakeries or Foodservice +0.99%.
U.S. Retail segment with 37.73% is solely responsible for the income gain, General Mills Inc continued, while company logged declining profits in Bakeries or Foodservice -8.59%, International -19.86%. Earnings grew 0.63 % to $416 millions for the forth quarter 2017, compare to income of $413 millions achieved a year before. General Mills Inc also emphasized it's improving profit margins, where net margin rose to 10.92% in forth quarter 2017, and operating margin edged up to 16%. Company said it sees now it's eps between $2.07 and $2.07, an improvement by $0.05 compare to previous guidance.
Looking into financial results for the fiscal year 2017, General Mills Inc reported Sales of $15.62 billions and net income of $1.70 billions.

Food Processing Company explained also, that Eps remained unchanged by 0 % to $2.77 per share from $2.77 in the previous fiscal year, while Sales decreased by -5.7 % from $16.56 billions a year ago.

General Mills Inc is expected to report next financial results on September 21, 2017.
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