Despite the volatility of the supply chain in recent years, General Mills continues to drive growth across all segments of its operations. The supplier recently released the results for its fiscal 2023 third quarter, highlighting that its net sales for the quarter increased 13 percent from the prior year to $5.1 billion.
“We built on our positive momentum and delivered strong results in the third quarter, including broad-based growth across each of our segments,” said Chairman and Chief Executive Officer Jeff Harmening. “Our team continues to manage well through ongoing supply chain disruptions and volatility in the operating environment. Our brands are winning with consumers, and we plan to sustain this momentum by continuing to invest in brand building, innovation, and capabilities that will drive future growth. With strong year-to-date performance and good visibility to the fourth quarter, we are once again raising our fiscal 2023 outlook for our key financial measures.”
In the organic segment in particular, General Mills saw a 16 percent increase in net sales for the third quarter. According to a press release, this was driven by positive organic net price realization and mix, with organic pound volume nearly matching year-ago levels.
Other highlights from the report include:
For more highlights from the report, check out the press release here.
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