GIS - General Mills Non-GAAP EPS of $1.10 beats by $0.04 revenue of $5.22B beats by $30M
- General Mills press release ( NYSE: GIS ): Q2 Non-GAAP EPS of $1.10 beats by $0.04 .
- Revenue of $5.22B (+4.0% Y/Y) beats by $30M .
- FY2023 Outlook : Organic net sales are now expected to increase 8 to 9 percent, compared to the previous expectation of 6 to 7 percent growth; Adjusted operating profit is now expected to increase 3 to 5 percent in constant currency, compared to the previous range of between flat and up 3 percent in constant currency; Adjusted diluted EPS is now expected to increase 4 to 6 percent in constant currency, compared to the previous range of up 2 to 5 percent in constant currency; Free cash flow conversion is still expected to be at least 90 percent of adjusted after-tax earnings.
- The net impact of divestitures, acquisitions, and foreign currency exchange is now expected to reduce full-year reported net sales growth by approximately 4.5 percent, and foreign currency exchange is still expected to reduce adjusted operating profit and adjusted diluted EPS growth by approximately 1 percent.
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General Mills Non-GAAP EPS of $1.10 beats by $0.04, revenue of $5.22B beats by $30M