General Mills, Inc. (NYSE: GIS) reported a modest increase in sales for the fourth quarter of 2023 when the consumer food company’s adjusted earnings remained unchanged year-over-year.
Net sales moved up 3% annually to $5 billion in the May quarter. Organic sales were up 5%. A decline in international sales was more than offset by growth in other operating segments.
Net earnings attributable to General Mills was $614. 9 million or $1.03 per share, compared to $822.8 million or $1.35 per share in the year-ago quarter. Adjusted earnings per share remained unchanged at $1.12 per share during the three-month period.
“We delivered excellent results in fiscal 2023, including generating double-digit growth in organic net sales and constant-currency adjusted diluted EPS and exceeding $20 billion in annual net sales for the first time in our company’s history,” said General Mills’ chief executive officer Jeff Harmening.
