Key Developments: General Mills Inc (GIS)
49.91USD
18 Jun 2013
$0.11 (+0.22%)
$49.80
$49.84
$49.99
$49.43
2,221,039
3,777,565
$50.97
$36.75
Latest Key Developments (Source: Significant Developments)
General Mills Inc Reaffirms FY 2013 Guidance-Conference Call
General Mills Inc announced that for fiscal 2013, it expects mid-single-digit growth in sales and operating profits. The Company expects adjusted diluted earnings per share (EPS) will grow to approximately $2.65, including headwinds from pension expense, tax, and the Yoki acquisition costs. The Company reported revenues of $16.658 billion in fiscal 2012. Full Article
General Mills, Inc. Completes Acquisition Of Yoki Alimentos SA
General Mills, Inc. announced the completion of its acquisition of Yoki Alimentos SA. Full Article
General Mills, Inc. Reaffirms FY 2013 Guidance-Conference Call
General Mills, Inc. announced that for fiscal 2013, the Company still targeting net sales to grow at a mid single-digit rate and expects adjusted diluted earnings per share to grow approximately $2.65, including headwinds from pension expense, tax, and acquisition-related costs for Yoki. The Company reported revenues of $16.658 billion in fiscal 2012. Full Article
General Mills, Inc. Comments On FY 2013 Revenue Guidance; Issues FY 2013 EPS Guidance Below Analysts' Estimates
General Mills, Inc. announced that for fiscal 2013, it expects net sales to grow at a mid-single-digit rate. The fiscal 2013 guidance provided above does not include any contribution from the anticipated acquisition of Yoki Alimentos, S.A., a Brazilian food company. General Mills expects this transaction will close during the first half of 2013. The Company estimates adjusted diluted EPS for fiscal 2013 will total approximately $2.65. This includes an estimated 2 to 3-cents per share drag from partial-year results for Yoki. Adjusted diluted EPS excludes one-time integration costs, mark-to-market valuation of certain commodity positions and restructuring expenses. The Company reported revenues of $$16.658 billion in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $17.483 billion and EPS of $2.75 for fiscal 2012. Full Article
General Mills, Inc. Announces 8% Dividend Increase
General Mills, Inc. announced that its Board of Directors has approved an 8% dividend increase for General Mills common stock. The new quarterly dividend of $0.33 per share is payable August. 1, 2012, to shareholders of record July 10, 2012. Full Article
General Mills, Inc. Announces Definitive Agreement To Acquire Yoki Alimentos S.A.
General Mills, Inc. announced that it has signed a definitive agreement to acquire Yoki Alimentos S.A., a privately-held food company headquartered in Sao Bernardo do Campo, Brazil. General Mills currently expects the transaction to close during the first half of its 2013 fiscal year, which begins on May 28, 2012. Financial terms were not disclosed. Full Article
General Mills, Inc. To Eliminate Approximately 850 Positions; Sees Q4 2012, FY 2013 Charge Guidance; Reaffirms FY 2012 EPS Guidance
General Mills, Inc. announced a productivity and cost savings plan designed to improve organizational effectiveness and focus on key growth strategies. The plan includes organizational changes that strengthen business alignment, and actions to accelerate administrative efficiencies across the Company. In connection with this initiative, the Company expects to eliminate approximately 850 positions globally. Plans also include asset-related costs of approximately $13 million pre-tax associated with the write-down of selected production equipment. The Company will record total restructuring charges of approximately $109 million pre-tax, reflecting one-time employee separation expenses and the asset-related costs. Approximately $94 million of these restructuring costs will be recorded in the fourth quarter of 2012. The remaining costs will be recorded in fiscal 2013. The Company continues to target fiscal 2012 adjusted diluted earnings per share (EPS) of $2.53 to $2.55 per share. This guidance excludes the fourth quarter restructuring charge, mark-to-market valuation effects, and Yoplait integration costs. Full Article
General Mills, Inc. Reaffirms FY 2012 EPS Guidance-Conference Call
General Mills, Inc. announced that for fiscal 2012, it expects to deliver adjusted diluted earnings per share (EPS) of $2.53 to $2.55. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.54 for fiscal 2012. Full Article
General Mills, Inc. Reaffirms FY 2012 EPS Guidance
General Mills, Inc. reaffirmed fiscal 2012 adjusted diluted earnings per share (EPS) guidance of $2.53-$2.55. The guidance excludes mark-to-market valuation effects, and integration costs for the Yoplait acquisition. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.54 for fiscal 2012. Full Article
General Mills, Inc. Declares Quarterly Dividend
General Mills, Inc. Announced that Board of Directors declared a quarterly dividend at the prevailing rate of $.305 per share, payable May 1, 2012, to shareholders of record April 10, 2012. Full Article
General Mills profit beats estimates on volume gain
- General Mills Inc reported better-than-expected third-quarter earnings on Wednesday after sales volume of its core brands rose for the first time in two years, a good sign for the U.S. packaged food industry.
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