General Mills Stock Gains On Eyeing Higher End Of FY22 Outlook

by Shivani Kumaresan, Benzinga Staff Writer

September 8, 2021 12:07 PM | 1 min read | Make a Comment

General Mills Inc GIS has updated its financial outlook for FY22, considering the evolving operating environment and the recent completion of its pet treats acquisition.
The company expects FY22 organic net sales towards the higher end of the prior range of down 1% to 3%, reflecting stronger-than-expected sales performance in Q1.
General Mills sees constant-currency adjusted operating profit towards the higher end of the prior range of down 2% to 4%.
Constant-currency Adjusted EPS towards the higher end of the prior range of flat to down 2%, mainly due to the impact of the recent pet treats acquisition, which is estimated to add $0.02 to adjusted EPS.
General Mills will report Q1 FY22 results on September 22, 2021.
Price Action: GIS shares are trading higher by 4.49% at $59.34 on the last check Wednesday.