General Mills Q2 net sales down 2% to $5.1B; cuts FY organic sales view to -1% to flat

GENERAL MILLS INC

2024-Q2 EPS reported $2.16 revenue$10,044,100,000

Adjusted diluted EPS of $1.25, up 14% in constant currency; GAAP EPS $1.02, up 1%.
Organic net sales fell 2% in Q2; 2-year compound growth of 4%.
Pet segment sales -4% to $569M; North America Retail -2% to $3.3B.
FY 2024 guidance: organic net sales now -1% to 0% (prior 3-4% growth); adjusted OP and EPS growth 4-5% CC (prior 4-6%).
HMM cost savings raised to ~5% of COGS from prior 4%; $1.3B in share repurchases in H1.

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 0.9

GENERAL MILLS INC reported its fiscal 2024 second quarter results: revenue $5.1 billion, net income $596 million, EPS $1.02.

Period: its fiscal 2024 second quarter
Revenue: $5.1 billion
Net income: $596 million
EPS: $1.02
Result: reported results

Exact text from the filing

General Mills Reports Fiscal 2024 Second-quarter Results and Updates Full-year Outlook ● Net sales of $5.1 billion

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GENERAL MILLS INC reported Six Month Results results: revenue $10.0 billion, net income $1.3 billion, EPS $2.16.

Period: Six Month Results
Revenue: $10.0 billion
Net income: $1.3 billion
EPS: $2.16
Result: reported results

Exact text from the filing

Net sales increased 1 percent to $10.0 billion

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Source: SEC EDGAR

accession 0001193125-23-299294

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