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General Mills, Inc. (NYSE: GIS) is a global leader in the food processing sector, headquartered in Minneapolis, Minnesota. Operating in more than 100 countries, General Mills markets an extensive portfolio of over 100 consumer brands including household names such as Cheerios, Yoplait, Betty Crocker, Pillsbury, Häagen-Dazs, Nature Valley, Green Giant, Old El Paso, Progresso, Cascadian Farm, and Muir Glen.
The company produces a wide range of food products categorized into snacks, cereals, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. In fiscal 2023, a significant 81% of the company's revenue was generated from the United States. However, General Mills maintains a robust international presence with operations in Canada, Europe, Australia, Asia, and Latin America.
General Mills' consumer base primarily comprises retail stores, but the company also provides products to foodservice channels and the commercial baking industry. The company is well-regarded for its commitment to quality, innovation, and sustainability, making it a trusted name in households worldwide.
Recent achievements include the expansion of its pet food line, particularly through the Blue Buffalo brand, which has seen substantial growth. Additionally, the company has invested in sustainable sourcing and production techniques, ensuring long-term environmental stewardship. Key partnerships with various retailers and distributors have further cemented General Mills' position as a market leader.
General Mills continues to focus on health-oriented products, meeting the growing consumer demand for nutritious and convenient food options. The company’s strategic initiatives and ongoing projects reflect its dedication to adapting to changing market dynamics while maintaining its legacy of delivering high-quality food products.
General Mills reported a 4% increase in net sales for the second quarter, reaching $5.2 billion, with organic net sales growth of 11%. Operating profit remained stable at $800 million, while diluted EPS rose 4% to $1.01. The company raised its fiscal 2023 outlook, expecting organic net sales to grow by 8-9% and adjusted EPS to increase by 4-6% in constant currency. The strong results were supported by effective brand-building and innovation strategies, despite challenges from input cost inflation and supply chain disruptions.
General Mills, Inc. (NYSE: GIS) will report its fiscal 2023 second quarter results on Dec. 20, 2022. A press release, pre-recorded management remarks, and supporting slides will be available that morning, followed by a webcasted Q&A session at 8 a.m. CT. Interested parties can access the materials and the webcast via www.generalmills.com/investors.
In fiscal 2022, General Mills generated net sales of $19.0 billion and an additional $1.1 billion from non-consolidated joint ventures.
Pet parents are increasingly aware of their dogs' dietary needs, as digestive issues and skin sensitivities are common reasons for veterinary visits. Blue Buffalo, a leader in natural pet food, aims to educate dog owners about recognizing dietary problems and offers solutions. Dr. Evan Antin emphasizes that nutritional changes can improve pet health. Recommended strategies include ensuring hydration, providing gentle foods, and considering limited ingredient diets like BLUE Basics and specialized formulas like BLUE True Solutions. These approaches help dogs manage digestive and skin issues effectively.
The Board of General Mills has declared a quarterly dividend of $0.54 per share, payable on February 1, 2023, to shareholders of record as of January 10, 2023. General Mills has a long-standing history of paying dividends without interruption for 124 years. In fiscal 2022, the company reported net sales of $19.0 billion and an additional $1.1 billion from non-consolidated joint ventures. This commitment to shareholder value is part of their continued strategy to innovate and strengthen brand presence.
REESE’S PUFFS has teamed up with designer Yoon Ahn and her brand AMBUSH to launch a unique breakfast experience called The Next Breakfast Dimension in New York City on
Pillsbury expands its partnership with Operation Homefront to support military families, announcing a new transitional home in Fort Worth and a nationwide donation campaign. This initiative includes a $1 donation for every Pillsbury product purchased via Instacart until November 10, aiming to raise up to $30,000. Since 2020, Pillsbury has invested over $5.6 million in support of military families, enabling the purchase of five homes through the Transitional Homes for Veterans program.
Pillsbury has launched a limited-edition holiday sweater featuring a scannable NFC chip that unlocks festive recipes, playlists, and baking tips. Available for $75, the sweater celebrates the brand's long-standing role in holiday traditions, highlighted by the iconic Doughboy's laugh, which can be activated by pressing the sweater. This initiative aims to enhance holiday joy while promoting Pillsbury products, including a variety of seasonal baked goods. The release reinforces Pillsbury's commitment to family traditions and easy holiday baking solutions.
General Mills expands its Old El Paso brand into the snack category with the launch of Fiesta Twists, featuring flavors like Queso, Zesty Ranch, and Cinnamon Churro. These corn twists aim to provide a unique snacking experience reminiscent of Tex-Mex cuisine. To promote this launch, Olympic athlete Shaun White will participate in a promotional event at Walmart in January. Old El Paso Fiesta Twists are available exclusively at Walmart for an MSRP of $3.48, enhancing General Mills' product offerings in the snack aisle.
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