General Mills Revises FY24 Adjusted Operating Profit And Adjusted EPS Outlook To 4-5% Increase In Constant Currency Vs. Previous Range Of 4-6% Growth In Constant Currency
Portfolio Pulse from Benzinga Newsdesk
General Mills has updated its FY24 outlook, now expecting a 4-5% increase in adjusted operating profit and adjusted EPS in constant currency, a slight decrease from the previously forecasted 4-6% growth. The company anticipates the economic health of consumers, input cost inflation, and supply chain stability to be key factors affecting its performance. General Mills still projects a 5% input cost inflation, largely due to labor inflation affecting sourcing, manufacturing, and logistics.
December 20, 2023 | 12:07 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
General Mills has lowered its FY24 growth forecast for adjusted operating profit and EPS to 4-5% in constant currency, down from the previous 4-6%. The company still expects a 5% input cost inflation, mainly from labor costs.
The revision of the growth forecast by General Mills to a lower range is likely to be perceived negatively by investors, as it suggests a less optimistic financial performance than previously expected. The continued expectation of input cost inflation, especially from labor, may also raise concerns about profit margins.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100