General Mills (NYSE: GIS) reported fourth quarter 2020 earnings results today.
Net sales increased 21% to $5 billion while organic net sales grew 16%, mainly due to a significant increase in at-home food demand driven by the COVID-19 pandemic.
Net earnings attributable to General Mills totaled $626 million, up 10% from the year-ago period.
Diluted EPS rose 9% to $1.02. Adjusted diluted EPS was $1.10, up 33% from the prior year in constant currency, mainly reflecting higher adjusted operating profit and after-tax earnings from joint ventures, as well as a lower tax rate.
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