General Mills: slight decline in Q1 results

(CercleFinance.com) - For its first quarter 2021-22, General Mills says it saw its adjusted EPS dip 2% at constant exchange rates to 99 cents, and its adjusted operating margin decrease 110 basis points to 18%.


Sales for the agri-food group, which distributes brands such as Cheerios, Häagen-Dazs and Yoplait, rose 4% to 4.5 billion dollars (+2% in organic net sales) sustained both by price-mix effects and favourable volumes.

General Mills confirms that it expects a stable adjusted EPS for its 2021-22 financial year, or down 2% at constant exchange rates, as well as an organic decrease in sales of between 1% and 3%. They should attain towards the top of these target ranges.

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