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G General Mills FOR IMMEDIATE RELEASE December 21 , 2021 GENERAL MILLS REPORTS FISCAL 2022 SECOND - QUARTER RESULTS • ● • • Net sales increased 6 percent to $ 5.0 billion ; organic net sales¹ were up 5 percent Operating profit declined 13 percent to $ 800 million ; constant - currency adjusted operating profit was down 6 percent , reflecting significant input cost inflation and elevated costs related to supply chain disruptions Diluted earnings per share ( EPS ) totaled $ 0.97 , down 13 percent from the prior year ; adjusted diluted EPS of $ 0.99 was down 7 percent in constant currency Company updates full - year fiscal 2022 outlook to reflect stronger net sales growth , higher costs , and the impact of the European Yoplait divestiture 1 Please see Note 7 to the Consolidated Financial Statements below for reconciliation of this and other non - GAAP measures used in this release . MINNEAPOLIS , Minn . – December 21 , 2021 - General Mills ( NYSE : GIS ) today reported results for the second quarter ended November 28 , 2021 . " We continued to compete effectively and execute well this quarter in a challenging operating environment , ” said General Mills Chairman and Chief Executive Officer Jeff Harmening . “ In the face of an unprecedented combination of input cost inflation and supply chain disruptions , we're moving quickly to keep our trusted brands on store shelves for consumers while driving net price realization to protect our bottom line . As a result , we now expect to meet or exceed each of our financial targets for the year . We also advanced our portfolio reshaping efforts in the quarter , and we're more confident than ever that General Mills will emerge from the pandemic a stronger company better geared to generate profitable growth in line with our Accelerate strategy . " General Mills is executing its Accelerate strategy to drive sustainable , profitable growth and top - tier shareholder returns over the long term . The strategy focuses on four pillars to create competitive advantages and win : boldly building brands , relentlessly innovating , unleashing scale , and being a force for good . The company is prioritizing its core markets , global platforms , and local gem brands that have the best prospects for profitable growth and is committed to 1