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May 28, 2023
General Mills Q4 2023 Earnings Report
General Mills reported fiscal 2023 fourth-quarter results.
Key Takeaways
General Mills reported a 3% increase in net sales to $5.0 billion for the fourth quarter of fiscal year 2023. Organic net sales increased by 5%. Diluted EPS was down 24% to $1.03, while adjusted diluted EPS increased 1% in constant currency to $1.12.
Net sales increased 3 percent to $5.0 billion.
Organic net sales increased 5 percent.
Operating profit of $818 million was down 19 percent.
Diluted EPS of $1.03 was down 24 percent.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
General Mills expects organic net sales to increase 3 to 4 percent, adjusted operating profit to increase 4 to 6 percent in constant currency, and adjusted diluted EPS to increase 4 to 6 percent in constant currency for fiscal year 2024.
Positive Outlook
- Strong marketing programs
- Innovation
- In-store support
- Net price realization
- HMM cost savings
Challenges Ahead
- Economic health of consumers
- Moderating rate of input cost inflation
- Increasing stability of the supply chain environment
- Labor inflation impacting sourcing, manufacturing, and logistics costs
- Net impact of divestitures and foreign currency exchange
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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