General Mills, Inc. (GIS)

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MINNEAPOLIS, March 20, 2019 /PRNewswire/ -- General Mills (NYSE: GIS) today reported results for the third quarter ended February 24, 2019. Financial results for the third quarter and first nine months of fiscal 2019 include contributions from Blue Buffalo Pet Products, Inc. ("Blue Buffalo"), which was acquired on April 24, 2018.
"We had a strong third quarter, with positive organic sales growth and significant operating margin expansion," said General Mills Chairman and Chief Executive Officer Jeff Harmening. "Our year-to-date performance and fourth-quarter plans give us confidence that we will meet or exceed all of our key fiscal 2019 targets. For the full year, we now expect adjusted diluted EPS and free cash flow conversion will exceed our initial targets, net sales will finish toward the lower end of our guidance range, and adjusted operating profit will finish toward the higher end of the range. Our improved execution and strengthened performance this year reinforce our view that a balanced approach to top and bottom-line growth, centered on our Consumer First strategy, will drive long-term value for our shareholders."