General Mills: Q4 beats consensus
(CercleFinance.com) - General Mills, whose brands include Häagen-Dazs ice cream and Yoplait yoghurts, has reported Q4 2019-20 adjusted EPS that is up 33% at constant exchange rates at 1.
10 dollar, exceeding the consensus by four cents.
Its adjusted operating margin improved by 40 basis points to 17.7%, with revenues up 21% to 5 billion dollars. On an organic basis, the agri-food group's sales grew by 16%, benefiting from demand resulting from the pandemic.
Full-year EPS is up 12% at constant exchange rates at 3.61 dollars, exceeding its target growth range of 6%-8%. However, given current uncertainties, General Mills has decided not to provide any targets for 2020-21.
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