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General Mills (NYSE:GIS) rallied on Tuesday after the food company raised guidance and issued a strong outlook at the Consumer Analyst Group of New York conference.
General Mills (GIS) now expects organic sales growth of approximately 10% vs. +8.7% consensus, adjusted operating profit growth of 6% to 7% in constant currency, adjusted diluted EPS growth of 7% to 8% in constant currency vs. +4% to +6% prior guidance, and free cash flow conversion of at least 90% of adjusted after-tax earnings. Looking ahead, General Mills (GIS) said it expects to continues to to deliver top-tier shareholder returns over the long-term by generating a consistent balance of net sales growth, margin expansion, cash conversion, and cash return to shareholders.
Shares of General Mills (GIS) gained 4.42% on a down market day overall.
Seeking Alpha contributor Vladimir Dimitrov does not think the rally is over yet. Read why he is bullish on General Mills.
