General Mills
Q4 2022 Earnings Call
Jun 29, 2022, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Greetings, and welcome to the General Mills fourth quarter fiscal 2022 earnings Q&A webcast. [Operator instructions] As a reminder, this conference is being recorded, Wednesday, June 29, 2022. I would now like to turn the conference over to Jeff Siemon, VP of investor relations. Please go ahead.
Jeff Siemon -- Vice President, Investor Relations
Thank you, Kelly, and good morning to everyone. We appreciate you joining us today for a Q&A session on our fourth quarter and full year fiscal '22 results. I hope everyone had time to review our press release, listen to our prepared remarks and view our presentation materials, which were made available this morning on our Investor Relations website. Please note that in our Q&A session, we will make forward-looking statements that are based on management's current views and assumptions.
Please refer to this morning's press release for factors that could impact forward-looking statements and for reconciliations of non-GAAP information, which may be discussed on today's call. I'm here with Jeff Harmening, our chairman and CEO; Kofi Bruce, our CFO; and Jon Nudi, group president of our North America retail segment. Let's go ahead and get right to the first question. So, Kelly, can you please get us started?
Questions & Answers:
Operator
[Operator instructions] Our first question comes from Andrew Lazar with Barclays. You may proceed with your question.
Andrew Lazar -- Barclays -- Analyst
Great. Thanks. Good morning, everybody. I think you've talked about over the course of this year how the combination of HMM and pricing and other levers have actually been pretty effective at sort of protecting a lot of the -- at least the dollar cost of actual sort of inflation, but that supply chain costs and some other things, of course, have weighed on margins and profitability as well, like it has for the group as a whole.
I guess as you look forward to '23, I think you mentioned that you anticipate another sort of, call it, low double-digit benefit from pricing that you've taken already or is already in place. But of course, you still see another very significant 14% jump in inflation and slowly but surely, hopefully will continue to improve on the supply chain side. So I guess the question is, do you think that the combination of pricing and the HMM and the other levers that you've got would be enough in fiscal '23 to sort of better protect dollar profit, even including some of the supply chain issues and other things as opposed to just cost inflation? And then I just got a quick follow-up.