earnings
confidence high
sentiment positive
materiality 0.75
General Mills Q1 net sales $4.7B (+4% reported, +10% organic); raises full-year outlook
GENERAL MILLS INC
2023-Q1 EPS reported
$1.35
revenue$4,717,600,000
- Diluted EPS of $1.35 (+32%); adjusted diluted EPS $1.11 (+13% constant currency).
- Operating profit up 29% to $1.1B; adjusted operating profit margin up 70 bps to 18.7%.
- Raises FY23 organic net sales growth outlook to 6-7% (from 4-5%), adjusted EPS growth to 2-5% (from 0-3%).
- International segment net sales down 30% due to yogurt/dough divestitures and Häagen-Dazs ice cream recall.
- North America Retail net sales up 10%; Pet up 19%; North America Foodservice up 21%.