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General Mills Outlines FY19 Targets - Quick Facts

General Mills (GIS) announced, for fiscal 2019, constant-currency adjusted EPS are expected to range between flat and down 3 percent from the base of $3.11 earned in fiscal 2018. The estimate includes a 4-cent headwind related to the Blue Buffalo acquisition, driven by the impact of purchase accounting. Constant-currency adjusted operating profit is expected to increase 6 to 9 percent from the base of $2.7 billion reported in fiscal 2018.

The company expects fiscal 2019 organic net sales to be in a range between flat and up 1 percent. Including the impact of the Blue Buffalo acquisition, net sales are expected to increase 9 to 10 percent.

Fourth-quarter adjusted EPS totaled $0.79, up 8 percent from the prior year. Constant-currency adjusted EPS increased 7 percent, driven by higher adjusted operating profit, partially offset by a 7-point headwind related to Blue Buffalo acquisition financing.

Fourth-quarter net sales increased 2 percent to $3.89 billion. Organic net sales increased 1 percent, primarily reflecting benefits from organic net price realization and mix across all four operating segments, partially offset by lower organic volume in the North America Retail, Europe & Australia, and Asia & Latin America segments.

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