General Mills Inc: Quarterly report
General Mills reported lower first quarter net sales and operating profit amid input cost inflation and the impact of past divestitures.
Negative for the companyWhat the numbers say
Revenue fell 2.8% to $4.4B versus the same quarter last year (4.8% down on the previous quarter); operating margin narrowed from 38.2% to 14.4%; diluted EPS $0.74 versus $2.22; cash fell by $20.7M to $433.1M while debt was flat; diluted share count down 0.8% (buybacks).
What happened
- Net sales decreased 3 percent to $ 4,389.5 million, while organic net sales growth rate was Flat.
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