In conjunction with its participation at the 2024 Barclays Global Consumer Staples Conference, General Mills (NYSE: GIS) provided an update on progress against its three enterprise priorities and reaffirmed its full-year financial outlook for fiscal 2025.
“We started fiscal 2025 focused on improving our topline growth by delivering remarkable experiences to consumers,” said General Mills CEO Jeff Harmening. “And while we still have work to do, we are off to a good start, with sequentially improving retail sales trends across many of our key categories.
“As we continue to navigate an evolving operating environment, we remain committed to our key priorities for this year, which are to accelerate our organic net sales growth, create fuel for investment by generating strong levels of HMM cost savings, and drive strong cash generation while maintaining our disciplined approach to capital allocation,” Harmening continued. “We remain in a strong position to deliver on our fiscal 2025 financial guidance.”
General Mills reaffirmed its full-year financial targets for fiscal 2025:
The company says organic net sales are expected to range between flat and up 1%.
Adjusted operating profit is expected to range between down 2% and flat in constant currency, including a two-point headwind from resetting incentive compensation after a below-average payout in the prior year.
Adjusted diluted EPS is expected to range between down 1% and up 1% in constant currency.
Free cash flow conversion is expected to be at least 95 percent of adjusted after-tax earnings.
GIS shares fell 30 cents at the start of a short week to $72.01.
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