General Mills: Q3 adjusted EPS up 6%
(CercleFinance.com) - The agri-food group General Mills, whose brands include the breakfast cereal Cheerios and the ice-cream Häagen-Dazs, has announced Q3 2020-21 adjusted EPS that is up 6% at constant exchange rates at 82 cents, slightly below the consensus.
Its adjusted operating margin narrowed by 30 basis points to 15.8%, on sales that are up 8% at 4.5 billion dollars (+7% in organic terms), still supported by high demand for home-deliveries of food due to the pandemic.
For 2020-21 General Mills expects its adjusted operating margin to be roughly in line with that of the previous fiscal year, with organic sales growth of around 3.5%. The company also intends to resume share buybacks.
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Its adjusted operating margin narrowed by 30 basis points to 15.8%, on sales that are up 8% at 4.5 billion dollars (+7% in organic terms), still supported by high demand for home-deliveries of food due to the pandemic.
For 2020-21 General Mills expects its adjusted operating margin to be roughly in line with that of the previous fiscal year, with organic sales growth of around 3.5%. The company also intends to resume share buybacks.
Copyright (c) 2021 CercleFinance.com. All rights reserved.