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General Mills Q3

82935 tommycarstensen 18/3 2020 18:41

Kursen paa General Mills har klaret sig ganske fornuftigt siden 19. februar. De kom med kvartalsregnskab i dag. Jeg har ikke tid til at uploade grafer lige nu. Der sker for meget i markedet til, at jeg kan foelge med.

General Mills Reports Fiscal 2020 Third-Quarter Results and Updates Full-Year Guidance
- Net sales of $4.2 billion were flat to last year; organic net sales¹ were also flat. Through nine months, net sales were down 1 percent and organic net sales were flat to last year.
- Operating profit of $651 million essentially matched year-ago results; constant-currency adjusted operating profit was down 8 percent, including a strong increase in media investment. Through nine months, operating profit was up 18 percent and constant-currency adjusted operating profit increased 2 percent.
- Diluted earnings per share (EPS) of $0.74 were flat to last year; adjusted diluted EPS of $0.77 were down 6 percent in constant currency. Through nine months, diluted EPS were up 30 percent and constant-currency adjusted diluted EPS increased 5 percent.
- Company updates its full-year fiscal 2020 guidance, raising the ranges for adjusted operating profit and adjusted diluted EPS

"We began fiscal 2020 with three key priorities: accelerate our organic sales growth, maintain our strong margins, and reduce our leverage," said General Mills Chairman and Chief Executive Officer Jeff Harmening. "Our focus and execution in a dynamic environment this year have kept us on track to achieve those goals. Our third-quarter results were broadly in line with our expectations, except for the negative impact in Asia of the COVID-19 virus outbreak.

"During the rapidly evolving situation related to COVID-19, our number one objective continues to be the health and safety of our consumers, employees, and other stakeholders. General Mills plays a critical role in making food to meet the needs of our consumers, and I'm proud of the way we've partnered with our retail customers in recent weeks to service consumers' increased demand for food at home during this unique time. Looking forward, we'll remain agile to adapt to changing demand patterns around the world as circumstances with COVID-19 continue to develop."