General Mills' (NYSE: GIS) stock rose to an all-time high on June 30 after the company posted its fourth-quarter earnings report. The packaged food giant's revenue rose 8% year over year to $4.89 billion, which beat analysts' estimates by $80 million, as its organic sales improved 13%. Its adjusted earnings increased 23% in constant currency terms to $1.12 per share, which also easily cleared the consensus forecast by 11 cents.
General Mills also provided a stable outlook for fiscal 2023, which started on May 30. It expects its organic sales to rise 4%-5% and for its adjusted earnings per share (EPS) to grow 0%-3% in constant currency terms.
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Source Fool.com