United States

General Mills Inc (GIS)

GIS on New York Consolidated

6 Dec 2016
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Latest Key Developments (Source: Significant Developments)

General Mills expands flour recall to include additional dates from last fall
Friday, 1 Jul 2016 01:13pm EDT 

General Mills Inc: Expanding its recall of Gold Medal flour, Wondra flour, and Signature Kitchens flour to include flour made earlier in fall .Recall expanded due to newly reported illness that appears to be from consumption of raw dough or batter linked to flour produced last fall.  Full Article

General Mills reports Q4 adj earnings per share $0.66
Wednesday, 29 Jun 2016 07:30am EDT 

General Mills Inc Says Fourth : General Mills reports fiscal 2016 results with EPS above previous guidance; increases margin expansion target . Q4 adjusted earnings per share $0.66 . Q4 earnings per share view $0.60 -- Thomson Reuters I/B/E/S . Q4 sales $3.9 billion versus I/B/E/S view $3.86 billion . Quarter net sales for U.S. retail segment declined 12 percent to $2.2 billion . Says in Q4, international segment net sales totaled $1.2 billion, down 1 percent compared to prior year . In fiscal 2017 organic net sales growth ranging from flat to down 2 percent compared to 2016 . Is undertaking further efforts to prioritize investments, reduce complexity, and streamline its operations to drive profitable sales growth . Now expects to achieve an adjusted operating profit margin of 20 percent by fiscal 2018 . 2017 constant-currency adjusted diluted EPS growing 6 to 8 percent from base of $2.92 earned in fiscal 2016 . Says estimates a 1-2 cent headwind to fiscal 2017 adjusted diluted eps from currency translation . Looking ahead to fiscal 2018, general mills expects modest organic net sales growth . General Mills Inc says board of directors in declaring a quarterly dividend of $0.48 per share . Sees for 2018, low double-digit constant-currency increase in adjusted diluted EPS . General Mills Inc says new divdend represents a 4 percent increase from previous quarterly rate of $0.46 per share.  Full Article

General Mills announces partnership with Organic Valley
Wednesday, 8 Jun 2016 10:00am EDT 

General Mills Inc :Partnership with Organic Valley to help about 20 dairy farms add around 3,000 acres to organic dairy production over next 3 years.  Full Article

General Mills issues recall of 4 flavors of Nature Valley bars
Thursday, 2 Jun 2016 04:45pm EDT 

General Mills Inc : Recall is being issued as part of sunflower kernel supplier sunopta's ongoing national recall for potential presence of listeria monocytogenes . Nature valley's other products are not affected by recall . Voluntary national recall of four specific flavors of nature valley protein chewy bars and nature valley simple nut bars . General mills has not received any direct consumer reports of confirmed illnesses related to supplier issue .Four flavors of nature valley bars that are part of recall were distributed to retail establishments throughout united states.  Full Article

General Mills says recalling some brands of Flour Due to possible E. Coli contamination
Tuesday, 31 May 2016 01:23pm EDT 

General Mills Inc : Collaborating With Health Officials To Investigate An Ongoing, Multistate Outbreak Of E. Coli O121 . Collaborating To Investigate Outbreak Potentially Linked To Gold Medal Flour, Wondra Flour, And Signature Kitchens Flour . Company Has Not Been Contacted Directly By Any Consumer Reporting Confirmed Illnesses Related To These Products. . "Out Of An Abundance Of Caution, A Voluntary Recall Is Being Made" . Recall Affects Following Retail Flour Products That Could Be Currently In Stores Or In Consumers' Pantries . To Date, E. Coli O121 Has Not Been Found In Any General Mills Flour Products Or In Flour Manufacturing Facility . Authorities Researching 38 Occurrences Of Illnesses Across 20 States Related To E. Coli O121, Between Dec 21, 2015 , And May 3 , 2016 .Recall Includes 6 Stock Keeping Units Of Gold Medal Flour, 2 SKU's Of Signature Kitchens Flour, 1 SKU Of Gold Medal Wondra Flour.  Full Article

General Mills terminates two five-year credit agreements
Wednesday, 18 May 2016 05:24pm EDT 

General Mills Inc : On May 18, 2016, General Mills Inc terminated its five-year credit agreement, dated as of April 16, 2012 . On May 18, 2016, General Mills Inc terminated its five-year credit agreement, dated as of May 23, 2014 .Entered into a five-year credit facility with an initial aggregate revolving commitment of $2.7 billion.  Full Article

General Mills Inc declares 5 percent dividend increase
Tuesday, 8 Mar 2016 04:31pm EST 

General Mills Inc:Board declared a quarterly dividend of $0.46 per share, payable May 2 to shareholders of record April 11.  Full Article

General Mills Inc acquires EPIC Provisions
Wednesday, 6 Jan 2016 09:04am EST 

General Mills Inc:Has acquired EPIC Provisions.Terms of the deal were not disclosed.EPIC will operate under General Mills' Annie's business.EPIC will maintain its present location in Austin.  Full Article

General Mills Inc announces acquisition of Brazilian Yogurt Maker Carolina
Wednesday, 23 Dec 2015 07:30am EST 

General Mills Inc:Announces acquisition of brazilian yogurt maker carolina.Terms of the transaction were not disclosed.Says General Mills continues to invest in Brazil.  Full Article

General Mills Inc revises FY 2016 outlook
Thursday, 17 Dec 2015 07:00am EST 

General Mills Inc:Revised its FY 2016 growth targets to reflect the impact of the Green Giant divestiture.FY 2016 net sales in constant currency are now expected to decline at a low single-digit rate from the FY 2015 levels that included a 53rd week.FY 2016 constant-currency adjusted diluted EPS is expected to grow at a low single-digit rate from the base of $2.86 earned in FY 2015.  Full Article


General Mills to cut as many as 600 jobs globally

General Mills Inc , the maker of Cheerios cereal, said it would cut as many as 600 jobs globally as part of a new organizational structure and eliminate the position of international chief operating officer.