General Mills Issues FY21 Outlook - Quick Facts

General Mills (GIS) said it expects fiscal 2021 adjusted operating profit margin to be approximately in line with fiscal 2020 levels, consistent with the guidance outlined at the beginning of the year. The company projects full-year organic net sales to increase approximately 3.5 percent.

Third quarter adjusted EPS was $0.82, up 6 percent in constant currency, primarily driven by higher adjusted operating profit and lower net interest expense. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.84, for the quarter. Analysts' estimates typically exclude special items. Adjusted operating profit was $716 million, increased 5 percent in constant currency.

Third quarter net sales increased 8 percent to $4.5 billion and organic net sales were up 7 percent. Analysts expected revenue of $4.45 billion, for the quarter.

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