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General Mills (GIS; Baa2/BBB) Reaffirms FY guidance ahead of 1Q results

CONSUMER STAPLES

The snacks and cereal co has kept FY guidance unch at sales growth flat to +1% and adj. EBIT -2% to flat. Consensus is waiting there already. It adds "we are off to a good start, with sequentially improving retail sales trends across many of our key categories...remain in a strong position to deliver on our fiscal 2025 financial guidance".

It did €1b in April across a 2-part; we don't expect a revisit to local markets; net 3x is high end of recent yrs, pre-funded maturities for this year - but subject to M&A.

1Q25 results (3m to Aug) come on the 18th of this month, FY24 results here.

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