earnings
confidence high
sentiment positive
materiality 0.75
General Mills reports Q4 net sales +8%, FY22 adj EPS $3.94; raises dividend 6%; FY23 outlook organic sales +4-5%
GENERAL MILLS INC
2022-FY EPS reported
$4.42
revenue$2,134,300,000
- Q4 net sales $4.9B (+8%), organic +13%; adj diluted EPS $1.12 (+23% constant currency).
- FY22 net sales $19.0B (+5%), adj EPS $3.94 (+4% cc); operating cash flow $3.3B (+11%).
- Board increased quarterly dividend 6% to $0.54/share, payable Aug 1 to holders of record July 8.
- FY23 outlook: organic net sales +4-5%; adj OP -2% to +1% cc; adj EPS flat to +3% cc.
- Seven portfolio reshaping transactions in FY22; net deal impact expected to reduce FY23 adj OP and EPS growth by ~3% each.