Categories AlphaGraphs, Consumer, Earnings

General Mills (GIS) Q2 2024 Earnings: Key financials and quarterly highlights

General Mills, Inc. (NYSE: GIS) reported its second quarter 2024 earnings results today.

Net sales decreased 2% to $5.1 billion versus the same period a year ago. Organic net sales were down 2%.

Net earnings attributable to General Mills were $596 million, down 2% from last year. EPS rose 1% to $1.02. Adjusted EPS was $1.25, up 14% in constant currency.

Earnings beat estimates while revenue fell short of expectations.

The company updated its guidance for fiscal year 2024. Organic net sales are now expected to range between down 1% and flat, compared to the previous range of 3-4% growth. Adjusted EPS is now expected to increase 4-5% in constant currency, compared to the previous range of 4-6% growth in constant currency.

The stock fell over 1% in premarket hours on Wednesday.  

Prior performance

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