Inside the Results
Net income for the quarter came in at $346.1 million, or 56 cents per share, down 37% from $549.9 million, or 84 cents per share, last year. Excluding special items, earnings were 80 cents per share, compared to 83 cents per share a year ago. Analysts expected to see earnings of 77 cents per share.
Revenue came in at $4.71 billion, down 3% from $4.88 billion a year ago. Analysts expected to see earnings of $4.79 billion.
Looking ahead, the company expects to see FY2015 growth in the low single-digit range.
Food Trends Have Changed
For income-focused investors, GIS could be a great choice in the current low interest rate environment. The stock currently offers a dividend yield around 3.16%.
Mutual Funds to Watch
|VTSMX||Vanguard Total Stock Market Index||1.68%|
|VFINX||Vanguard 500 Index||1.07%|
The Bottom Line
Shares of GIS are up 3% YTD.
Sign up for Advisor Access
Receive email updates about best performers, news, CE accredited webcasts and more.