General Mills, Inc.

NYSE:GIS   3:59:59 PM EDT
-0.61 (-0.96%)
Other Pre-Announcement

General Mills Reports Adjusted Earnings Per Share Of $1.00

Published: 09/23/2020 11:26 GMT
General Mills, Inc. (GIS) - General Mills Reports Strong Fiscal 2021 First-quarter Results and Announces Dividend Increase.
Q1 Adjusted Earnings per Share $1.00.
Q1 Earnings per Share $1.03.
Q1 Sales $4.4 Billion Versus Refinitiv Ibes Estimate of $4.21 Billion.
Q1 Earnings per Share Estimate $0.87 -- Refinitiv Ibes Data (analyst estimates).
Announces 4 Percent Quarterly Dividend Increase to $0.51 per Share.
First-quarter Net Sales for General Mills' North America Retail Segment Increased 14% to $2.71 Billion.
"the Fundamentals of Our Business Are Strong".
Q1 Net Sales for Pet Segment Increased 6% to $392 Million.
Q1 Net Sales for Convenience Stores & Foodservice Segment Declined 12% to $392 Million.
Expects Q2 At-home Food Demand to Remain Elevated Compared to Pre-pandemic Levels.
General Mills - Expects Largest Factor Impacting 2021 Will Be Relative Balance of At-home Versus Away-from-home Consumer Food Demand, Due to Covid-19.
General Mills - Not Providing FY Outlook for Fiscal 2021 Growth in Organic Net Sales, Adjusted Operating Profit, & Adjusted Diluted Eps.
General Mills - Co's Objective is to Deliver FY Fiscal 2021 Adjusted Operating Profit Margin About in Line With Fiscal 2020 Levels.
General Mills - Continues to Expect Net Sales Growth in Fiscal 2021 Will Be Positively Impacted.
Expects Q2 Adjusted Operating Profit Margin to Decline.