On March 22, General Mills
- The top line increased by 6.2%, driven by a 5% rise in worldwide unit volumes and growing international sales.
- In the third quarter, the company repurchased approximately 94,000 shares of common stock.
- Management has raised EPS guidance for 2007 to a range of $3.14 to $3.16.
- General Mills is currently rated a three-star stock by the Motley Fool CAPS community, still ahead of competitors like ConAgra Foods
(NYSE:CAG) (with one star) and Heinz(NYSE:HNZ) (with two).
(Figures in millions, except per-share data)
Income Statement Highlights|
Q3 2007 |
Q3 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$3,054 |
$2,877 |
6.2% |
|
Net Profit |
$268 |
$246 |
8.9% |
|
EPS |
$0.74 |
$0.68 |
8.8% |
Get back to basics with the income statement.
Margin Checkup
|
Q3 2007 |
Q3 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
35.1% |
34.3% |
0.8 |
|
Operating Margin |
15.9% |
15.8% |
0.2 |
|
Net Margin |
8.8% |
8.6% |
0.2 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$476 |
$653 |
(27.1%) |
|
Accounts Rec. |
$1,208 |
$1,088 |
11.0% |
|
Inventory |
$1,225 |
$1,170 |
4.7% |
|
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$658 |
$656 |
0.3% |
|
Long-Term Debt |
$3,165 |
$2,502 |
26.5% |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
YTD 2007 |
YTD 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$1,153 |
$1,228 |
(6.1%) |
|
Capital Expenditures |
$249 |
$191 |
30.4% |
|
Free Cash Flow |
$904 |
$1,037 |
(12.8%) |
Free cash flow is a Fool's best friend.
Related Foolishness:
- Fool on the Street: General Mills Is Cooking
- General Mills Rethinks Trix
- General Mills: A Poppin' Fresh Update
- General Mills Grinds Higher
Heinz is a Motley Fool Income Investor selection. Find out why with a 30-day free trial.
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