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General Mills Inc GIS Stock Quote

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NYSE:GIS

Morningstar‘s Stock Analysis GIS

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Narrow-Moat General Mills Should Remain Steady, Despite Economic Environment

Rebecca Scheuneman, CFA Senior Equity Analyst

Business Strategy and Outlook

| Rebecca Scheuneman, CFA |

As at-home food consumption remains elevated during the pandemic, consumers are finding favor with General Mills' offerings, as shown by increases in household penetration and repeat purchase rates in most categories. Even so, we expect this lift will largely be temporary, with consumers gradually returning to activities outside of the home, returning away-from-home food expenditures to half, as it was prior to the pandemic. But we do expect a lasting benefit for General Mills' pet food business, given the high-single-digit increase in pet adoptions during the crisis.

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Key Statistics GIS

Company Profile GIS

Business Description

General Mills is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, BLUE, and Haagen-Dazs. In fiscal 2022, 77% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. While most of General Mills' products are sold through retail stores to consumers, the company also sells products into the food-service channel and the commercial baking industry.

Contact
Number One General Mills Boulevard
Minneapolis, MN, 55426
T +1 763 764-7600
Industry Packaged Foods
Most Recent Earnings Aug 31, 2022
Fiscal Year End May 29, 2023
Employees 32,500

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