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May 29, 2022
General Mills Q4 2022 Earnings Report
General Mills reported Q4 2022 earnings with increased net sales and EPS.
Key Takeaways
General Mills reported an 8% increase in net sales to $4.9 billion and a 98% increase in diluted EPS to $1.35 for the fourth quarter of fiscal year 2022. Organic net sales increased by 13%. The company's board also approved a 6% increase in the quarterly dividend.
Net sales increased 8 percent to $4.9 billion; organic net sales increased 13 percent.
Operating profit increased 85 percent to $1.0 billion.
Diluted EPS of $1.35 increased 98 percent.
Board approved a six percent dividend increase.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
General Mills expects organic net sales to increase 4 to 5 percent and adjusted diluted EPS to range between flat and up 3 percent in constant currency for fiscal year 2023.
Positive Outlook
- Organic net sales are expected to increase 4 to 5 percent.
- Company is planning for volume elasticities to increase but remain below historical levels
- Supply chain disruptions to slowly moderate in fiscal 2023 compared to fiscal 2022 levels
- Net proceeds from the divestitures will support an increased share repurchase plan in fiscal 2023
- Company expects the net proceeds from the divestitures will support an increased share repurchase plan in fiscal 2023, resulting in a 2 to 3 percent net reduction in its average diluted share count for the year
Challenges Ahead
- Economic health of consumers may impact performance
- Inflationary cost environment may impact performance
- Frequency and severity of disruptions in the supply chain may impact performance
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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