What’s behind General Mills’ Impressive Q4 Margins?

General Mills (GIS) impressed with its margins performance in the fiscal fourth quarter. The company’s adjusted profit margins improved despite significant headwinds from higher input and logistics costs. Peers including Conagra Brands (CAG), J.M. Smucker (SJM), and Kellogg (K) also managed to expand margins during the last reported quarter, reflecting higher cost and productivity savings. The graph shows that General Mills’ margins expanded both sequentially and on a YoY (year-over-year) basis.