Packaged food giant General Mills (GIS) has issued quarterly financial results that beat Wall Street forecasts and reaffirmed its guidance.
For what was its fiscal first quarter, General Mills announced earnings per share (EPS) of $0.86 U.S., which beat the $0.81 U.S. consensus expectation of analysts.
Revenue came in at $4.50 billion U.S., which was inline with analysts’ forecasts.
The maker of Cheerios cereal and Häagen-Dazs ice cream also reaffirmed its fiscal 2026 guidance that calls for organic net sales in the range of down 1% to up 1%.
Earnings for the fiscal year are expected to decline between 10% and 15% “amid a continued challenging consumer backdrop.”
Management said they are struggling with weak demand as consumers shift to cheaper private label brands amid inflation.
General Mills’ stock dipped 2% to $48.80 U.S. per share in premarket trading following the latest earnings report. The company’s shares have declined 22% so far in 2025.
