General Mills Reports Mixed Results in Q3 2024 Earnings: A Detailed Analysis
Stock Performance
General Mills' stock traded flat in Q3 2024 after a two-year low, remaining below its 12-month average. The company's dividend yield rose to 3.7% with no significant movements.
Financial Results
The company reported a decrease in net sales to $5.1 billion, including a 1% decline in organic sales. Despite the sales drop, net earnings increased to $670.1 million, and adjusted earnings per share also saw growth.
Outlook and Guidance
General Mills expects continued pressure on sales due to weak consumer trends but anticipates a 4-5% rise in adjusted operating profit and earnings per share for fiscal 2024. The company focuses on executing its plan amid challenging market conditions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.