General Mills Q3 net sales +13% to $5.1B; adjusted EPS +17% cc; raises FY outlook

GENERAL MILLS INC

2023-Q3 EPS reported $3.28 revenue$15,064,200,000

Net sales $5.1B (+13% reported, +16% organic); GAAP EPS $0.92 (-15%); adjusted EPS $0.97 (+17% constant currency).
North America Retail net sales +15% to $3.2B; Pet +14% to $646M; Foodservice +25%; International -3%.
Adjusted operating profit +20% constant currency; adjusted gross margin +240 bps to 33.8%.
Raised FY23 outlook: organic net sales now +10-11% (prev. ~10%), adj. EPS +8-9% cc (prev. +7-8%).
Nine-month cash from ops $2.0B; repurchased ~15M shares for $1.2B; dividends up 4% to $967M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENERAL MILLS INC reported the quarter ended February 26, 2023 results: revenue $5.1 billion, net income $553 million, EPS $0.92. Guidance raised.

Period: the quarter ended February 26, 2023
Revenue: $5.1 billion
Net income: $553 million
EPS: $0.92
Guidance: raised
Result: reported results

Exact text from the filing

EX-99 (EX-99) --- EX-99 Exhibit 99 General Mills Reports Fiscal 2023 Third-quarter Results and Raises Full-year Outlook • Net sales increased 13 percent from the prior year to $5.1 billion; organic net sales 1 were up 16 percent • Operating profit declined 10 percent to $730 million; adjusted operating profit was up 20 percent in constant currency • Diluted

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Source: SEC EDGAR

accession 0001193125-23-077267

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