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General Mills Provides Comfort Food for Investors
General Mills(GIS Quote) is nearing a 52-week high this morning, as the company reported a 14% rise in revenue for the latest quarter.
The company's U.S. Retail segment grew 13% to $2.3 billion, with gains recorded by every division. The Baking Products division grew 25%, reflecting strong gains by Betty Crocker dessert mixes and Gold Medal flour. The international business segment also grew nicely, up 15% to $690 million.
The company slightly raised its EPS forecasts to a range of $3.81 to $3.85 per share. Previously, the company's 2009 earnings guidance was a range of $3.78 to $3.83 per share. ...
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