secwatch.observer — SEC 8-K summary
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Issuer:     GENERAL MILLS INC (GIS)
CIK:        0000040704
Form:       8-K
Filed at:   2024-09-18T23:59:59+00:00
Accession:  0001193125-24-221059
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

General Mills Q1 net sales down 1%, EPS down 10%; announces $2.1B yogurt divestiture, reaffirms FY25 outlook
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- Net sales $4.8B (-1% YoY); adjusted EPS $1.07 (-2% constant currency); organic net sales -1%.
- Announces sale of North American Yogurt business to Lactalis and Sodiaal for $2.1B; expected close in calendar 2025; dilutive ~3% to adj. EPS in first 12 months post-close.
- Segment: NA Retail op profit -7%, NA Pet +7%, NA Foodservice +21%, International -58% (constant currency).
- Reaffirms FY25 outlook: organic net sales flat to +1%, adj. op profit -2% to flat, adj. EPS -1% to +1% constant currency.
- Share repurchases $300M in Q1 vs $500M last year; average diluted shares down 5% to 564M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/40704/000119312524221059/0001193125-24-221059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/40704/000119312524221059/d805015d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-221059

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