GIS Earnings: All you need to know about General Mills’ Q2 2023 earnings results

General Mills, Inc. (NYSE: GIS) reported second quarter 2023 earnings results today.

Net sales increased 4% year-over-year to $5.2 billion. Organic net sales increased 11%.

Net earnings attributable to General Mills increased 1% to $606 million and EPS rose 4% to $1.01 compared to the year-ago quarter.  Adjusted EPS of $1.10 was up 12% YoY.

Both revenue and adjusted EPS beat market expectations.

The company raised its outlook for fiscal year 2023. Organic net sales are now expected to increase 8-9%, compared to the previous expectation of 6-7% growth. Adjusted EPS is now expected to increase 4-6% in constant currency, compared to the previous range of up 2-5% in constant currency.

Prior performance