General Mills, Inc.

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Other Pre-Announcement

General Mills Reports Q4 And FY21 Results And Provides Fiscal 2022 Outlook

Published: 06/30/2021 11:20 GMT
General Mills, Inc. (GIS) - General Mills Reports Fourth-quarter and Full-year Results for Fiscal 2021 and Provides Fiscal 2022 Outlook.
Q4 Adjusted Earnings per Share $0.91.
Q4 Earnings per Share $0.68.
Q4 Sales $4.5 Billion Versus Refinitiv Ibes Estimate of $4.36 Billion.
Q4 Earnings per Share Estimate $0.85 -- Refinitiv Ibes Data (analyst estimates).
Resumed Dividend Growth and Share Repurchase Activity.
Fourth-quarter Net Sales for General Mills' North America Retail Segment Were Down 17 Percent to $2.64 Billion.
Expects At-home Food Demand Will Decline Year Over Year in Fiscal 2022 Across Most of Its Core Markets.
Q4 Net Sales for the Pet Segment Were Down 20% to $444 Million.
Away-from-home Food Demand is Expected to Continue to Recover in Fiscal 2022, Though Not Fully to Pre-pandemic Levels.
Dynamics Expected to Result in Lower Aggregate Consumer Demand in Company's Categories in Fiscal 2022 Versus Fiscal 2021 Levels.
Total Input Cost Inflation is Currently Expected to Be Approximately 7 Percent of Cost of Goods Sold in Fiscal 2022.
Fiscal 2022 Organic Net Sales Are Expected to Decline 1 to 3 Percent.
Q4 Net Sales for the Convenience Stores & Foodservice Segment Increased 25% to $493 Million.
General Mills - Fiscal 2022 Constant-currency Adjusted EPS Expected to Range Between Flat and Down 2 Percent From Base of $3.79 Earned in Fiscal 2021.
Taking Actions to Address Near-term Cost Pressures.