General Mills Expects Sale Of North American Yogurt Business To Be Approx. 3% Dilutive To Adjusted EPS In The First 12 Months After Close; Expects To Use Net Proceeds For Share Repurchases
Portfolio Pulse from Benzinga Newsdesk
General Mills plans to sell its North American yogurt business, which is expected to dilute adjusted EPS by approximately 3% in the first year post-sale. The company intends to use the proceeds for share repurchases and will provide more details in its Q1 2024 earnings report.
September 12, 2024 | 11:03 am
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General Mills' sale of its North American yogurt business is expected to dilute adjusted EPS by 3% in the first year. The company plans to use the proceeds for share repurchases, potentially offsetting the dilution.
The sale of the yogurt business is expected to dilute EPS by 3%, which is a negative short-term impact. However, the plan to use proceeds for share repurchases could mitigate this effect. The market may react negatively initially due to the dilution, but the repurchase plan could stabilize the stock.
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