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BRIEF-General Mills reports fiscal 2017 second-quarter results
December 20, 2016 / 12:19 PM / a year ago

BRIEF-General Mills reports fiscal 2017 second-quarter results

Dec 20 (Reuters) - General Mills Inc

* General Mills reports fiscal 2017 second-quarter results

* General Mills Inc says second-quarter net sales for General Mills’ U.S. retail segment totaled $2.52 billion, down 9 percent from prior year

* General Mills Inc says currency translation is now expected to reduce full-year adjusted diluted EPS by 1 cent in 2017

* Says company now expects free cash flow to increase at a high single-digit rate in 2017

* Says qtrly U.S. retail segment operating profit increased 2 percent, primarily driven by benefits from cost savings initiatives

* Fy2017 earnings per share view $3.09, revenue view $16.00 billion -- Thomson Reuters I/B/E/S

* Second-Quarter net sales for General Mills’ international segment totaled $1.10 billion, down 5 percent from prior year

* 2017 organic net sales growth now expected to decline between 3 and 4 percent, below previous range of flat to down 2 percent

* Says constant-currency total segment operating profit is now expected to increase 2 to 4 percent in 2017

* Q2 adjusted earnings per share $0.85 excluding items

* Q2 earnings per share $0.80

* Q2 sales $4.1 billion versus I/B/E/S view $4.23 billion

* Q2 earnings per share view $0.86 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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