General Mills Stock Fair Value – GENERAL MILLS Reports Record Q1 Earnings for FY2024
October 21, 2023
🌥️Earnings Overview
For the first quarter of FY2024 ending on August 31 2023, GENERAL MILLS ($NYSE:GIS) reported total revenue of USD 4904.7 million, an increase of 4.0% when compared to the same quarter the previous fiscal year. However, net income for the quarter was USD 673.5 million, a decrease of 17.9% year over year.
Market Price
On Wednesday, GENERAL MILLS reported record first quarter earnings for the fiscal year 2024. This marks the highest quarterly earnings reported by the company in its history. The strong performance of GENERAL MILLS can be attributed to its diversified portfolio of products and brands, including Cheerios, Betty Crocker, Yoplait, and Nature Valley. In addition to its core cereal and snack lines, the company has recently released new products such as gluten-free and vegan snack bars and innovative breakfast cereals. This product innovation has allowed the company to capitalize on consumer trends and remain competitive in the market.
The company also stated that it is working to reduce its carbon footprint and increase sustainability initiatives. It is shifting towards renewable energy sources, utilizing energy efficient technologies, and investing in renewable resources. As the company continues to expand its product portfolio, they are well positioned to remain competitive in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for General Mills. More…
| Total Revenues | Net Income | Net Margin |
| 20.28k | 2.45k | 12.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for General Mills. More…
| Operations | Investing | Financing |
| 2.77k | -747.7 | -2.13k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for General Mills. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 31.32k | 20.8k | 17.66 |
Key Ratios Snapshot
Some of the financial key ratios for General Mills are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.1% | 1.6% | 18.8% |
| FCF Margin | ROE | ROA |
| 10.0% | 23.0% | 7.6% |
Analysis – General Mills Stock Fair Value
At GoodWhale, we have been analyzing the fundamentals of GENERAL MILLS and came to the conclusion that its fair value is around $75.9, which is determined by our proprietary Valuation Line. Currently, the GENERAL MILLS stock is traded at $65.9, which means it is undervalued by 13.2%. We believe investors should consider taking advantage of this favorable opportunity and add GENERAL MILLS to their portfolio. More…
Peers
JM Smucker Co, Newberry Specialty Bakers Inc, and J&J Snack Foods Corp are all companies that compete with General Mills Inc.
– JM Smucker Co ($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 should take note of General Mills’ first quarter FY2024 earnings report, which has reported total revenue of USD 4904.7 million, a 4.0% increase compared to the same period of the previous fiscal year. However, net income declined 17.9% to USD 673.5 million. Overall, General Mills’ performance in the first quarter of FY2024 was largely mixed, with higher revenues but lower profits. Investors should continue to monitor General Mills’s performance and outlook in the coming quarters to determine if the company’s financials continue to trend in the right direction.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
