General Mills Reports Fourth-Quarter And Full-Year Fiscal 2017 Results; Provides 2018 Outlook
Source General Mills
General Mills Board of Directors also Declares Dividend Increase
- Fourth-quarter diluted earnings per share (EPS) increased 11 percent to $0.69; adjusted diluted EPS(1) totaled $0.73, an increase of 14 percent in constant currency
- Fourth-quarter net sales declined 3 percent; organic net sales also declined 3 percent
- Full-year diluted EPS of $2.77 matched year-ago levels; adjusted diluted EPS of $3.08 was 6 percent above year-ago levels in constant currency
- Full-year operating profit margin was 16.4 percent, up 10 basis points versus a year ago; adjusted operating profit margin increased 130 basis points to 18.1 percent of net sales
- Full-year net sales decreased 6 percent; organic net sales were 4 percent below last year
- Net cash returned to shareholders totaled $2.7 billion versus $1.5 billion a year ago
