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General Mills Reaffirms Annual Guidance

General Mills, Inc. (GIS), a maker and marketer of branded consumer food, on Tuesday reaffirmed its guidance for the full year, while updating outlook for the second half.

For the fiscal 2022, the company still expects net sales to increase from four percent to five percent.

Adjusted operating profit is projected to decline from one percent, to four percent, while adjusted EPS is expected to range between down two percent and up one percent.

For the current fiscal, analysts', on average, expect the company to report EPS at $3.77, and revenue at $18.82 billion.

For the second half, the firm expects "earnings to be more heavily weighted to the fourth quarter than previously expected, driven by recent acute supply shortages on its refrigerated dough, pizza, and hot snacks platforms in North America."

General Mills projects third-quarter net sales to rise from 2 percent to 3 percent, and adjusted operating profit to be down high-single digits to low-double digits, compared with last year.

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