On the money

On the money

We discuss and dissect food companies' financial results.



Amid overhaul, Weston Foods remains positive despite H1 profit fall 1 Aug 2018

Amid increasing competition, Weston Foods, one of North America’s largest bakery products businesses, is undergoing what its parent company has called a "transformation programme" aimed at becoming a "premier player" in the industry and delivering "solid financial results". Yesterday, Weston Foods reported falling half-year sales and earnings. Simon Harvey had a look at the numbers.


Nestle results provide food for thought - key takeaways 30 Jul 2018

Nestlé revealed a generally positive set of first-half results on Thursday that were received favourably by the stock market, despite a tweak to the Swiss food giant's organic growth outlook. But what was most interesting is what can surely only be deemed as a veiled kickback by CEO Mark Schneider at activist investor Daniel Loeb. Simon Harvey looks at the key takeaways.


Bakery giant Aryzta's fresh profit warning raises concerns 29 May 2018

It has been clear for months there are some sizeable challenges facing Aryzta, the Swiss-Irish bakery giant - and there were signs this week the company's problems persist.


Campbell Q3, profit warning, CEO exit - four things to learn 22 May 2018

Friday (18 May) proved a notable day in the recent history of Campbell Soup Co., with the US giant reporting a third-quarter loss, a profit warning and the immediate departure of CEO Denise Morrison. Dean Best reports.


Premier Foods gives grounds for (cautious) optimism - analysis 17 May 2018

What a difference twelve months makes as Premier Foods plc recorded its fastest pace of annual revenue growth in five years, a stark contrast to the disappointing results unveiled by chief executive Gavin Darby in 2017. And, at this juncture, the UK's fourth-largest food company is perhaps on a firmer footing to achieve its ongoing, yearly, sales growth target having seen a surge in demand in Australia and, at the same time, witnessed a revival in its Batchelors and Angel Delight brands. Simon Harvey investigates. 


TreeHouse Foods' CEO Steven Oakland faces turnaround challenge 7 May 2018

New TreeHouse Foods chief Steven Oakland has only been in the hot seat at the US own-label supplier for a matter of weeks but, despite better-than-expected underlying earnings per share, the company's results for the first quarter of 2018 gave an indication of the challenge ahead. Simon Harvey reports.


Nestle on Brazil, China, US, AgeCore row and M&A - top takeaways from Q1 commentary 19 Apr 2018

On an organic basis, Nestle's first-quarter sales beat analyst expectations as volumes offset the company's weakest pricing since 2000. The result meant the world's largest food maker stuck to its forecast for its organic sales to grow by 2-4% this year. However, beyond the numbers, Nestle's senior management issued some interesting commentary on trading in countries key to many food multinationals, on its pricing dispute with European buying group AgeCore and gave a flavour of its appetite for M&A


General Mills' profit warning - five things to learn 27 Mar 2018

General Mills caused grumbles on Wall Street last week with another downward revision to its forecast for a key profit metric - the second change announced in a month. The US group "feels good" about its top-line performance but knows it needs to work on its profitability, even if it insists some of the factors affecting its bottom line are sector-wide. How General Mills reacts will be keenly watched by investors and industry. Dean Best reports.


Four things to learn from Bakkavor's 2017 results and 2018 outlook 1 Mar 2018

The publication of UK private-label supplier Bakkavor's first set of annual results since it floated on the London Stock Exchange late last year revealed higher revenues and profits. But what about the company's future prospects? Andy Coyne reports.


Five things to learn from Danone's 2017 results 20 Feb 2018

French dairy giant Danone - which owns Activia yogurts, dairy alternative Alpro and Evian water - has returned a positive set of full-year 2017 figures as synergies kicked in from its acquisition of US natural and organic foods business WhiteWave Foods. But that's not the full story. Andy Coyne delves a little deeper.


Nestle's 2017 results and 2018 outlook – five things to learn 19 Feb 2018

The climb just got steeper for Nestle chief executive Mark Schneider after only 12 months at the helm of the world's largest food company. The Swiss giant reported a sixth straight year of slowing organic growth last week, while profits again declined. Simon Harvey goes through the numbers and looks ahead to 2018 and beyond. 


Kellogg's 2017 results and 2018 outlook - four things to learn 11 Feb 2018

Kellogg enjoyed improved profitability in 2017 but again saw pressure on its top line, with, notably, its US morning foods business continuing to suffer. However, some industry watchers saw some signs of progress in the fourth quarter - and even across the year as a whole. All eyes will be on how recently-installed CEO Steve Cahillane believes he can improve the cereal and snacks giant's performance.


Mondelez International's 2017 numbers and 2018 outlook - five things to learn 6 Feb 2018

Andy Coyne looks at what might be learned from Mondelez International's 2017 results and the snacks giant's outlook for the year ahead.


McCormick's 2017 results and 2018 outlook - six things to learn 30 Jan 2018

Andy Coyne gauges reaction to US flavourings business McCormick's full year results and looks at its future growth prospects. Here are five things he learned.


Premier Foods - cautious optimism or false promises? 20 Nov 2017

Shares in Premier Foods rose on Wednesday (15 November) after the UK group posted second-quarter numbers that cheered the market. However, while group sales picked up, profits through the half year were flat, as were revenues from the mainstay branded division. Analysts, disappointed with Premier’s previous false harvests, are not rushing for the jam pots just yet, Simon Harvey reports.


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