General Mills, Inc.

NYSE:GIS   3:59:59 PM EDT
-0.64 (-0.92%)
Other Pre-Announcement

General Mills Reports Q2 Adjusted Earnings Per Share of $0.99

Published: 12/21/2021 15:57 GMT
General Mills, Inc. (GIS) - General Mills Reports Fiscal 2022 Second-quarter Results.
Q2 Adjusted Earnings per Share $0.99.
Q2 Earnings per Share $0.97.
Q2 Revenue $5.0 Billion.
Second-quarter Net Sales for General Mills' North America Retail Segment Increased 2 Percent to $2.98 Billion.
General Mills - Co Updates Full-year Fiscal 2022 Outlook to Reflect Stronger Net Sales Growth, Higher Costs, Impact of European Yoplait Divestiture.
Sees FY Organic Net Sales Up 4% to 5%.
2022 Organic Net Sales Are Now Expected to Increase 4 to 5 Percent.
Qtrly Net Sales for Pet Segment Increased 29 Percent to $593 Million.
2022 Constant-currency Adjusted Diluted EPS Are Now Expected to Range Between Down 2 Percent and Up 1 Percent.
Second-quarter Net Sales for the Convenience Stores & Foodservice Segment Increased 23 Percent to $541 Million.
General Mills - Net Impact of Divestitures, Acquisitions, and Foreign Currency Exchange Expected to Reduce FY Reported Net Sales Growth by About 1%.
Co Now Expect to Meet Or Exceed Each of Our Financial Targets for Year.
Q2 Earnings per Share View $1.05, Revenue View $4.84 Billion -- Refinitiv Ibes Data (analyst estimates).
FY2022 Earnings per Share View $3.78, Revenue View $18.27 Billion -- Refinitiv Ibes Data (analyst estimates).
General Mills - for FY, Co Now Anticipates Cost of Goods Sold Headwinds About $500 Million Higher Than What Was Assumed in Its Initial Fiscal 2022 Outlook.
Sees European Yoplait Transaction to Reduce Fiscal 2022 Adjusted Operating Profit, Adjusted Diluted EPS by About 1%.