General Mills Stock Price, News & Analysis

General Mills (GIS) reported Q2 results for the fiscal year ending November 29, 2020, with net sales increasing 7% to $4.7 billion. Organic net sales also rose 7%, supported by market share gains due to increased at-home food consumption amid the pandemic. The company saw a 19% increase in net earnings to $688 million and diluted EPS grew 17% to $1.11. Adjusted operating profit increased 6% in constant currency, with a margin of 18.3%. Despite strong performance, General Mills refrained from providing a full-year outlook given the uncertain impact of COVID-19.

General Mills (NYSE: GIS) has been awarded a double ‘A’ score by the environmental impact nonprofit CDP for its leadership in sustainability, specifically in addressing climate change and water security. This recognition places General Mills among a select group of North American Food & Beverage companies achieving this score. The company aims to reduce greenhouse gas emissions by 30% and promote regenerative agriculture on one million acres by 2030. CDP's evaluation process is recognized as a gold standard in environmental transparency.

Chex cereal has announced a holiday collaboration with Chrissy Teigen and John Legend, introducing new festive recipes aimed at enhancing holiday celebrations in 2020. The campaign features two recipes: Legendary Muddy Buddies and Sugar and Spice Chex Holiday Mix, designed to inspire families to create festive snacks together. With more families staying home, Chex emphasizes its versatile and fun recipes to foster togetherness during the holidays. The collaboration is highlighted on Chex cereal boxes and through videos on Chex.com.

General Mills (NYSE: GIS) will release its fiscal 2021 second-quarter results on December 17, 2020. A press release, management remarks, and slides will be available that morning, followed by a webcast Q&A at 8:00 a.m. CT. General Mills reported fiscal 2020 net sales of $17.6 billion, along with $1.0 billion in non-consolidated joint venture sales. The company aims to produce food that the world loves, featuring notable brands like Cheerios, Häagen-Dazs, and Betty Crocker.

The Board of Directors of General Mills has declared a quarterly dividend of $0.51 per share, marking a 4% increase from last year's $0.49. This dividend is payable on February 1, 2021, to shareholders on record as of January 8, 2021. General Mills has maintained uninterrupted dividend payments for 122 years. In fiscal 2020, the company reported net sales of $17.6 billion, along with $1.0 billion in net sales from non-consolidated joint ventures.

General Mills launched the Old El Paso Tortilla Pockets in Australia, which sparked an international tennis event called the #MessFreeChallenge. Initiated by Nick Kyrgios, the challenge promotes fun while raising awareness for hunger relief. Tennis stars from around the world, including Genie Bouchard and Sofia Kenin, participated, showcasing their skills with Old El Paso products. The campaign resulted in donations of 100,000 meals to food banks. During the pandemic, General Mills committed $9 million towards hunger relief, including $5 million in food donations to Feeding America.

The General Mills Foundation has announced an additional $4 million in funding to combat food insecurity exacerbated by the COVID-19 pandemic. This funding complements the over $10 million already distributed for food assistance since March 2020. The $4 million will support organizations like Feeding America and the Global FoodBanking Network, focusing on enhancing food bank capacities and sustainable food systems. A significant portion, $2 million, is earmarked for the MealConnect platform to facilitate food donations. General Mills has contributed over $50 million in cash and food donations in fiscal 2020.