GENERAL MILLS Reports Q4 Earnings Results for FY2023 on June 28

🌥️Earnings Overview

GENERAL MILLS ($NYSE:GIS) released their earnings results for the fourth quarter of fiscal year 2023 on June 28 2023. Total revenue for the period, ending May 31 2023, grew by 2.8% to USD 5030.0 million, however, net income declined 25.3% year over year to USD 614.9 million.

Market Price

The stock opened the day at $78.9 and closed the day at $76.7, which represented a drop of 5.2% from the previous day’s closing price of $80.9. This decrease in stock price could be attributed to investors’ reactions to the earnings results, which were not as strong as analysts expected them to be. Despite this, GENRAL MILLS still achieved some notable successes during the quarter, including increased sales in its core market segments and a number of strategic investments. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for General Mills. More…

Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for General Mills. More…

Key Ratios Snapshot

Some of the financial key ratios for General Mills are shown below. More…

Analysis

GoodWhale is your go-to source for analyzing financials of companies like GENERAL MILLS. Our Risk Rating tool gives GENERAL MILLS a medium risk investment rating when it comes to financial and business aspects. We use a wide range of data points to assess the risk involved in investing in a company, and based on our analysis, GENERAL MILLS faces 3 risk warnings in income sheet, balance sheet, and non-financial categories. If you want to drill down further into the details of the risks associated with investing in GENERAL MILLS, you can register on goodwhale.com. More…

Peers

JM Smucker Co, Newberry Specialty Bakers Inc, and J&J Snack Foods Corp are all companies that compete with General Mills Inc.

– JM Smucker Co ($NYSE:SJM)

The J.M. Smucker Company has a market capitalization of $14.97 billion as of 2022 and a return on equity of 7.19%. The company manufactures and markets food and beverage products, including coffee, peanut butter, shortening and oils, frozen sandwiches, fruit spreads, syrups, and toppings. It also produces pet food, pet snacks, and pet food ingredients. The company was founded in 1897 and is headquartered in Orrville, Ohio.

– Newberry Specialty Bakers Inc ($OTCPK:NBRY)

J&J Snack Foods Corp is a leading manufacturer and distributor of snack foods and beverages. The company’s products include pretzels, chips, popcorn, frozen desserts, and more. J&J Snack Foods Corp has a strong presence in the United States and internationally. The company’s products are sold in over 100 countries. J&J Snack Foods Corp is a publicly traded company on the NASDAQ stock exchange. The company’s stock ticker symbol is JJSF. J&J Snack Foods Corp was founded in 1971 and is headquartered in Pennsauken, New Jersey.

Summary

Investors in General Mills had mixed reactions to the company’s fiscal year 2023 Q4 earnings results reported on June 28, 2023.

However, net income decreased by 25.3% year-over-year to $614.9 million. As a result, the stock price went down on the same day. Although revenue growth was positive, analysts remain cautious on the outlook due to the decline in net income and associated decrease in shareholder value. Investors are keeping an eye on how General Mills will navigate the current market conditions in order to ensure long-term returns.