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General Mills Stock Slips as Cereal Maker Lowers Full-Year Profit Outlook
Key Takeaways
General Mills ( GIS ) shares moved lower Wednesday morning after the company lowered its fiscal 2025 adjusted profit outlook, offsetting second-quarter results that beat analysts' estimates.
The snack and cereal maker recorded $5.24 billion in revenue , up 2% year-over-year and above the $5.14 billion that analysts had expected, per Visible Alpha. General Mills' net income was $795.7 million, up 34% and well above the projected $683.3 million.
General Mills lowered its fiscal 2025 adjusted earnings per share (EPS) forecast to between down 3% to down 1% in constant-currency terms from fiscal 2024 levels. Previously, it projected adjusted EPS from down 1% to up 1%.
The company now expects full-year organic net sales growth at the lower end of
its previously reported range
of flat to up 1% "due to increased promotional investment."
General Mills shares fell about 4% soon after the opening bell Wednesday to move into negative territory for 2024.
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