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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.
General Mills
General Mills
General Mills Revenue by Segment
General Mills Revenue by Geographic Location
Revenue by Segment
North America Retail Revenue
CapyFin.comNorth America Foodservice Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com 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