General Mills: beats consensus in Q4.
(CercleFinance.com) - General Mills, which has the famous Häagen-Dazs, Green giant and Yoplait brands, posted an adjusted EPS of 73 cents, up 11% (+14% at constant exchange rates) in its final quarter of 2016-17, beating the consensus by two cents.
The Minneapolis agri-food group improved its adjusted operating margin by 2.2 basis points to 16.8%, thanks in particular to a better gross margin and cost savings, with sales that were down 3% in organic terms at 3.81 billion dollars.
With FY adjusted EPS of 3.08 dollars, General Mills expects a 1% to 2% increase in EPS at constant exchange rates in 2017-18, with a 1% to 2% decline in sales in organic terms.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Minneapolis agri-food group improved its adjusted operating margin by 2.2 basis points to 16.8%, thanks in particular to a better gross margin and cost savings, with sales that were down 3% in organic terms at 3.81 billion dollars.
With FY adjusted EPS of 3.08 dollars, General Mills expects a 1% to 2% increase in EPS at constant exchange rates in 2017-18, with a 1% to 2% decline in sales in organic terms.
Copyright (c) 2017 CercleFinance.com. All rights reserved.