General Mills Reaffirms FY19 Outlook - Quick Facts

(RTTNews) - General Mills Inc. (GIS) on Tuesday reaffirmed its financial outlook for the fiscal year ending May 26, 2019.

In conjunction with a presentation today at the Consumer Analyst Group of New York or CAGNY investor conference, General Mills maintained its forecast for fiscal 2019 organic net sales in a range between flat and up 1 percent. Including the impact of the Blue Buffalo acquisition, the company expects net sales to increase 9 to 10 percent in constant currency.

General Mills also affirmed its outlook for full-year constant-currency adjusted earnings per share to range between flat and down 3 percent. Constant-currency adjusted operating profit is expected to increase 6 to 9 percent.

The company also expects currency translation to reduce reported net sales by 1 to 2 percentage points in fiscal 2019, while it is not expected to have a material impact on full-year adjusted operating profit or adjusted earnings per share.

By combining consistent topline growth, margin expansion, and disciplined cash conversion and cash returns, General Mills expects to generate top-tier total shareholder returns over the long term.