General Mills (GIS) Misses Q2 EPS by 5c, Revenue Beats, Offers Guidance

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Go back to General Mills (GIS) Misses Q2 EPS by 5c, Revenue Beats, Offers Guidance

General Mills Reports Fiscal 2022 Second-Quarter Results

December 21, 2021 7:00 AM EST

Net sales increased 6 percent to $5.0 billion; organic net sales1 were up 5 percent Operating profit declined 13 percent to $800 million; constant-currency adjusted operating profit was down 6 percent, reflecting significant input cost inflation and elevated costs related to supply chain disruptions Diluted earnings per share (EPS) totaled $0.97, down 13 percent from the prior year; adjusted diluted EPS of $0.99 was down 7 percent in constant currency Company updates full-year fiscal 2022 outlook to reflect stronger net sales growth, higher costs, and the impact of the European Yoplait divestiture

¹ Please see Note 7 to the... More