General Mills Expects FX to Weaken 2022 Sales -- Currency Comment
Dow Jones
By Paulo Trevisani
General Mills said Tuesday currency translations had a favorable impact on quarterly sales, while it expects FX rates to have little or negative impact on its fiscal 2022 results.
The Minneapolis-based food producer said that FX rates are likely to have "an immaterial impact on adjusted operating profit and adjusted diluted EPS growth."
The company also said that FX rates are expected to be one factor, along with acquisitions and divestitures, decreasing net sales in fiscal 2022.
General Mills reported a 6% increase in net sales in the second quarter, ended November 28, to $5 billion, including a favorable impact from currency translation.
