General Mills Inc. Q3 Report 2024

General Mills, Inc. reported results for its fiscal 2024 third quarter.

“General Mills’ strategic focus on brand building, innovation, and in-store execution contributed to improved volume and market share trends in the third quarter,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. “We continue to navigate today’s evolving operating environment while generating industry-leading levels of cost savings. And we remain committed to investing further in our brands and capabilities to drive profitable growth over the long term.”

Highlights

  • Net sales of $5.1 billion were down 1 percent in the third quarter and organic net sales1 were also down 1 percent; on a 2-year compound growth basis, net sales were up 6 percent and organic net sales were up 7 percent
  • Operating profit of $911 million was up 25 percent; adjusted operating profit of $914 million increased 14 percent in constant currency
  • Diluted earnings per share (EPS) of $1.17 were up 27 percent; adjusted diluted EPS of $1.17 increased 22 percent in constant currency
  • Company reaffirms full-year fiscal 2024 outlook

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