Wed, Sep 18, 7:48 PM (93 days ago)
In the first quarter of fiscal 2025, General Mills reported net sales of $4,848.1 million, a 1% decrease from the previous year, driven by unfavorable net price realization and mix. Operating profit fell 11% to $831.5 million, with a margin of 17.2%, reflecting rising SG&A expenses and commodity valuation impacts. Diluted earnings per share decreased by 10% to $1.03. Segment performance varied: North America Retail saw a 2% sales decline, while North America Pet grew by 7% in operating profit. The International segment's sales remained flat but experienced a significant profit drop of 58%. Cash flow from operations improved to $624 million, up from $378 million, aided by changes in current assets and liabilities. Looking ahead, General Mills anticipates organic sales growth amid a challenging economic backdrop, emphasizing innovation and cost savings to offset inflation. Uncertainties include commodity price volatility and competitive dynamics. The company's liquidity remains strong, with ample credit facilities to support operations.