Form 424B5 GENERAL MILLS INC streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Shares of General Mills Inc (NYSE: GIS) are down after the company reported its second-quarter FY24 earnings and revised its outlook to citing a slower volume recovery, reflecting a more cautious consumer economic outlook and a faster normalization of competitive on-shelf availability.
General Mills Inc (NYSE: GIS) reported first-quarter FY24 sales growth of 4% year-on-year to $4.90 billion, beating the analyst consensus of $4.88 billion. Organic net sales increased 4%, driven by positive organic net price realization and mix. North America Retail segment sales increased 3% Y/Y to $3.1 billion. Pet segment sales remained flat at $580 million, while International segment sales jumped 10% to $716 million. Adjusted EPS of $1.09 topped the consensus of $1.08. Gross margin expanded
In conjunction with its participation at the 2023 Barclays Global Consumer Staples Conference, General Mills provided an update on progress against its three enterprise priorities and reaffirmed its.