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General Mills Reports Lower Q3 Results; Beats Views (GIS)

Before Wednesday’s opening bell, General Mills (GIS ) reported lower results for its third quarter, but still beat analysts’ expectations.

GIS's Earnings in Brief

  • GIS reported net income of $343.2 million, or 56 cents per share, down from $410.6 million, or 64 cents per share, last year.
  • Excluding special items, EPS was 70 cents – above analysts’ estimate of 67 cents per share.
  • Revenue declined 1% to $4.35 billion from $4.38 billion. Analysts expected to see revenue of $4.35 billion.
  • Looking forward, GIS expects to FY2015 adjusted earnings to grow at a low-single-digit rate. Analysts expect to see EPS of $2.82.

CEO Commentary

General Mills Chairman and Chief Executive Officer Ken Powell commented: “Our third-quarter results reflect strengthened operating performance. Our U.S. Retail segment posted net sales and profit growth including contributions from the Annie’s business acquired in October 2014. Constant-currency net sales and profit growth accelerated for our International segment. And the Convenience Stores and Foodservice segment led our operating results, with sales up 6 percent and profit up 11 percent.”

GIS's Dividend

General Mills will pay its next 44 cent dividend on May 1. The stock is going ex-dividend on April 8.

GIS Dividend Snapshot

As of market close on March 17, 2015

GIS dividend yield annual payout payout ratio dividend growth

Click here to see the complete history of GIS dividends.

Stock Performance

Shares of GIS were up 47 cents, or 0.90% during premarket trading Wednesday. The stock is down 2.4% YTD.

The Bottom Line

General Mills (GIS ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.