We Still See Long-Term Potential in General Mills Following Fiscal 2018 Results; Shares Cheap
Wide-moat General Mills concluded its fiscal year on solid footing, with sales of $15.7 billion (1% growth) and adjusted diluted earnings per share of $3.11 both matching our expectation. Most notably, we appreciate seeing strong improvement in gross margin during the fourth quarter, which expanded 180 basis points over last year to 36.5%, as the firm's efforts to extract efficiencies from its operations helped offset industrywide input cost inflation, which was a significant drag on gross margi...General Mills manufactures and markets branded consumer foods. The company's segments are: North America Retail, which provides cereals, refrigerated yogurt, soup, meal kits, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit and savory snacks, and organic products, among others; Convenience Stores and Foodservice, which provides snacks, yogurt, frozen meals and frozen dough products, and baking mixes, among others; Europe and Australia, which includes retail and foodservice businesses in the Europe and Australia region; Asia and Latin America, which consists of retail and foodservice businesses in the Asia and South America regions; and Pets, which includes pet food products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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