Pet And International Area Provide New Aisle For Growth For General Mills Stock (NYSE:GIS)


Grocery store aisle.

Katrina Wittkamp

Investment Thesis

General Mills (NYSE:GIS) is a consumer-staples powerhouse with a significant North American market share. Despite volume decreases in 1Q24, GIS managed to offset with pricing actions for a net revenue growth of 4%.

Despite short-term

E2024

E2025

E2026

Price-to-Sales

1.9

1.8

1.8

Price-to-Earnings

14.7

13.9

13.3

Segment

% of total FY23 Revenues

1Q24 Net Sales Growth %

1Q24 Change in Operating Profit % (constant-currency)

North American Retail

61%

4%

3%

International

17%

9%

52%

Pet

12%

0%

-10%

North American Foodservice

10%

4%

10%

Sub-Segment

% of total FY23 Revenues

1Q24 Net Sales Growth %

U.S. Snacks

18.0%

8%

U.S. Morning Foods

18.0%

3%

U.S. Meals and Baking

22.0%

-1%

Canada (Constant Currency)

5.0%

4%



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