NYSE$GIS
General Mills Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
General Mills reported Q4 2022 earnings with increased net sales and EPS.
General Mills reported an 8% increase in net sales to $4.9 billion and a 98% increase in diluted EPS to $1.35 for the fourth quarter of fiscal year 2022. Organic net sales increased by 13%. The company's board also approved a 6% increase in the quarterly dividend.
- Net sales increased 8 percent to $4.9 billion; organic net sales increased 13 percent.
- Operating profit increased 85 percent to $1.0 billion.
- Diluted EPS of $1.35 increased 98 percent.
- Board approved a six percent dividend increase.
Headline financials
Revenue & EPS history
General Mills · Revenue · Quarterly
$4.89B
Revenue by segment
General Mills · $4.28B total across 3 segments · Q4 2022
- N.A. Retail$3B+13.8%70.2%
- International$750M—17.5%
- N.A. Foodservice$526M—12.3%
Forward guidance
General Mills expects organic net sales to increase 4 to 5 percent and adjusted diluted EPS to range between flat and up 3 percent in constant currency for fiscal year 2023.
Tailwinds
- Organic net sales are expected to increase 4 to 5 percent.
- Company is planning for volume elasticities to increase but remain below historical levels
- Supply chain disruptions to slowly moderate in fiscal 2023 compared to fiscal 2022 levels
- Net proceeds from the divestitures will support an increased share repurchase plan in fiscal 2023
- Company expects the net proceeds from the divestitures will support an increased share repurchase plan in fiscal 2023, resulting in a 2 to 3 percent net reduction in its average diluted share count for the year
Headwinds
- Economic health of consumers may impact performance
- Inflationary cost environment may impact performance
- Frequency and severity of disruptions in the supply chain may impact performance
- Adjusted operating profit is expected to range between down 2 percent and up 1 percent in constant currency
- Adjusted diluted EPS are expected to range between flat and up 3 percent in constant currency
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2022
-0.2%
Avg return
Earnings day
-0.7%
Avg return
5 days after
-0.6%
Avg return
30 days after
42%
30 / 72 earnings
Positive
+8.5%
Q4 2016
Best reaction
-11.0%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | — | — | — | |
| Q3 2026 | +0.0% | -3.6% | -8.4% | |
| Q2 2026 | +2.9% | +0.8% | -5.3% | |
| Q1 2026 | -0.9% | +1.0% | -2.4% | |
| Q4 2025 | -1.2% | -1.7% | -3.9% | |
| Q3 2025 | -2.1% | -3.8% | -4.8% | |
| Q2 2025 | -2.9% | -3.6% | -9.6% | |
| Q1 2025 | +0.5% | -0.4% | -6.1% | |
| Q4 2024 | -5.3% | -5.9% | -1.4% | |
| Q3 2024 | +0.2% | +0.7% | +2.6% | |
| Q2 2024 | -3.7% | -3.3% | -5.3% | |
| Q1 2024 | -0.6% | -1.7% | -4.0% | |
| Q4 2023 | -5.7% | -4.7% | -6.7% | |
| Q3 2023 | +6.2% | +6.1% | +9.5% | |
| Q2 2023 | -2.0% | -2.0% | -11.1% | |
| Q1 2023 | +7.1% | +4.3% | +2.2% | |
| Q4 2022 | +7.4% | +7.9% | +6.4% | |
| Q3 2022 | +5.9% | +6.7% | +15.7% | |
| Q2 2022 | -3.1% | -2.7% | +1.0% | |
| Q1 2022 | +3.9% | +2.8% | +8.1% | |
| Q4 2021 | +0.3% | +0.3% | -1.9% | |
| Q3 2021 | -2.7% | +2.1% | +0.1% | |
| Q2 2021 | +0.8% | -0.5% | -4.5% | |
| Q1 2021 | +1.2% | +3.3% | +6.5% | |
| Q4 2020 | -0.3% | +0.9% | +2.6% | |
| Q3 2020 | -10.0% | -20.8% | +1.7% | |
| Q2 2020 | +2.0% | +1.1% | +3.2% | |
| Q1 2020 | -1.2% | -2.1% | -4.5% | |
| Q4 2019 | -2.8% | -0.7% | -0.1% | |
| Q3 2019 | +5.9% | +8.1% | +9.5% | |
| Q2 2019 | +6.5% | +2.4% | +18.4% | |
| Q1 2019 | -7.3% | -6.9% | -8.6% | |
| Q4 2018 | -3.0% | -5.7% | -2.3% | |
| Q3 2018 | -11.0% | -9.3% | -13.1% | |
| Q2 2018 | +3.3% | +4.3% | +2.6% | |
| Q1 2018 | -6.7% | -5.6% | -6.1% | |
| Q4 2017 | -1.0% | -0.6% | -0.3% | |
| Q3 2017 | -2.2% | -1.8% | -3.9% | |
| Q2 2017 | -1.1% | -1.4% | -2.2% | |
| Q1 2017 | +0.6% | -1.2% | -6.2% | |
| Q4 2016 | +8.5% | +9.4% | +9.3% | |
| Q3 2016 | +0.9% | — | — | |
| Q2 2016 | -3.8% | — | — | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | +2.4% | — | — | |
| Q3 2015 | +0.9% | — | — | |
| Q2 2015 | +4.7% | — | — | |
| Q1 2015 | -3.7% | — | — | |
| Q4 2014 | -3.1% | — | — | |
| Q3 2014 | +0.7% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | -1.9% | — | — | |
| Q4 2013 | +0.0% | — | — | |
| Q3 2013 | +3.1% | — | — | |
| Q2 2013 | -0.5% | — | — | |
| Q1 2013 | +2.9% | — | — | |
| Q4 2012 | -0.9% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | +1.4% | — | — | |
| Q1 2012 | +5.4% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q3 2011 | -1.0% | — | — | |
| Q2 2011 | -0.8% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q4 2008 | -1.4% | — | — | |
| Q4 2010 | -1.4% | — | — | |
| Q3 2009 | -3.3% | — | — | |
| Q3 2010 | -3.3% | — | — | |
| Q2 2010 | +0.8% | — | — | |
| Q1 2010 | -0.8% | — | — | |
| Q4 2009 | -0.8% | — | — | |
| Q1 2009 | -0.8% | — | — | |
| Q2 2009 | -0.8% | — | — |
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