General Mills: Q4 EPS down 19%
(CercleFinance.com) - The agri-food company General Mills has announced Q4 2020-21 adjusted EPS that is down 19% at constant exchange rates at 91 cents, albeit above the consensus.
The group's adjusted operating margin fell by 140 basis points to 16.3%, on sales that are down 10% at 4.5 billion dollars (-6% in organic terms), relative to a comparable period, boosted by strong demand for food at home with the onset of the pandemic.
With FY adjusted EPS of 3.79 dollars, General Mills expects 2021-22 adjusted EPS to be either flat or down by up to 2% at constant exchange rates, with organic sales declining by between 1% and 3%.
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