secwatch.observer — SEC 8-K summary
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Issuer:     GENERAL MILLS INC (GIS)
CIK:        0000040704
Form:       8-K
Filed at:   2021-12-21T23:59:59+00:00
Accession:  0001193125-21-363009
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

General Mills Q2 net sales +6% to $5.0B; EPS down 13% to $0.97; guides FY organic sales +4-5%
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- Gross margin down 400 bps to 32.5%; adjusted gross margin down 330 bps to 32.2% on inflation and supply chain costs.
- Pet segment net sales +29% (organic +14%); operating profit +10% on volume growth and price/mix.
- Updated FY2022: organic net sales +4-5% (prior: -1 to -3%); adjusted operating profit -1 to -4%; adjusted EPS -2% to +1%.
- Completed European Yoplait sale to Sodiaal on Nov 30; announced European dough sale to Cérélia, closing expected by end FY2022.
- COGS headwinds $500M higher than originally expected; input cost inflation 8-9% for the full year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/40704/000119312521363009/0001193125-21-363009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/40704/000119312521363009/d247642d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-363009

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