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General Mills Inc   (GIS)
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EARNINGS REPORT by CSIMarket

Earnings Increased, Surge in Sales

General Mills Inc announced fourth quarter 2020 operating income of $829.5 millions, company raises it's earnings guidance.

For the fourth quarter 2020 General Mills Inc income increased by 8.53 % of $1.02 per share compare to $0.94 a year ago and earnings grew by 37.6 % from $0.74 per share from the previous quarter.
Prosciutto_con_melone_By_Nikodem_Nijaki_(Own_work)__[CC-BY-SA-3.0_(http_creativecommons.org_licensesby-sa3.0)]_via_Wikimedia_Commons
Sales increased rapidly by 20.7 % to $5.02 billions from $4.16 billions in the same quarter a year ago and sequentially Sales improved by 20.16 % from $4.18 billions.


General Mills Inc said it's sales growth was driven by U.S. Retail segment up 3.56% Bakeries or Foodservice segment up 0.99%, while sales in International segment fell -11.26%.
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 7.88 % to $627.000 millions for the fourth quarter 2020, compare to income of $581.200 millions achieved a year before. General Mills Inc shifted it's focus on improving sales in the fourth quarter 2020, as a result net margin eased to 12.48%. 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 2020, General Mills Inc reported Sales of $17.63 billions and net income of $2.21 billions.

Food Processing Company explained also, that Earnings per share grew by 22.76 % to $3.56 per share from $2.90 in the previous fiscal year, while Sales increased by 4.51 % from $16.87 billions a year ago.

General Mills Inc is expected to report next financial results on December 17, 2020.


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Other GIS's Earnings Reports

General Mills Inc reported third quarter 2020 earnings

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