General Mills (GIS) cuts outlook on 'slower-than-expected' volume recovery
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General Mills Reports Fiscal 2024 Second-quarter Results and Updates Full-year Outlook
December 20, 2023 7:00 AM ESTNet sales of $5.1 billion were down 2 percent in the second quarter and organic net sales1 were also down 2 percent; on a 2-year compound growth basis, net sales were up 1 percent and organic net sales were up 4 percent Operating profit of $812 million was up 2 percent; adjusted operating profit of $989 million increased 13 percent in constant currency Diluted earnings per share (EPS) of $1.02 was up 1 percent; adjusted diluted EPS of $1.25 increased 14 percent in constant currency Company updates full-year fiscal 2024 outlook to reflect expectations for slower volume recovery and greater Holistic Margin Management (HMM)... More
