General Mills (GIS) Tops Q4 EPS by 4c
General Mills (NYSE: GIS) reported Q4 EPS of $0.75, $0.04 better than the analyst estimate of $0.71. Revenue for the quarter came in at $4.3 billion versus the consensus estimate of $4.53 billion.
Chairman and Chief Executive Officer Ken Powell said, "General Mills fiscal 2015 operating performance was mixed. Our Convenience Stores & Foodservice segment recorded good sales growth, increased its operating profit margin, and delivered record profit results. Our International segment also achieved good margin expansion and profit growth in constant currency. However, sales and profit declined for U.S. Retail – our largest operating segment. We returned our U.S. yogurt business to growth, and our brands gained share in categories representing 65 percent of our U.S. Retail measured sales volume, but overall sales trends reflected the impact of changing consumer food preferences.
"Our actions to respond to evolving consumer food interests – including bolstering our natural and organic portfolio with the addition of Annie's – helped strengthen our business performance in the second half of the year," Powell continued. "This Consumer First product and marketing focus, combined with our significant productivity and cost-savings programs, positions General Mills to deliver stronger growth in 2016."
For earnings history and earnings-related data on General Mills (GIS) click here.