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General Mills Stock Slips as Cereal Maker Lowers Full-Year Profit Outlook
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Main points
- General Mills shares fell on Wednesday after the company lowered its adjusted profit forecast for fiscal 2025.
- Second-quarter sales and net profit increased year-on-year, exceeding analysts’ expectations.
- The snacks and cereal maker expects adjusted profit to fall from last year due to increased investment.
General Mills (geographic information system) shares were lower Wednesday morning after the company cut its adjusted profit outlook for fiscal 2025, offsetting second-quarter results that beat analysts’ expectations.
The snack and cereal maker had revenue of $5.24 billion incomeAccording to data from Visible Alpha, the year-on-year growth was 2%, which was higher than analysts’ expectations of $5.14 billion. general mills net income US$795.7 million, an increase of 34%, much higher than the expected US$683.3 million.
General Mills lowers fiscal 2025 adjusted results Earnings per share (EPS) On a constant currency basis, it is expected to be down 3% to 1% from fiscal 2024 levels. Previously, the company expected adjusted earnings per share to rise 1% from a decline of 1%.
The company currently expects full-year organic net sales growth to be the scope of its previous coverage It rose 1% flat “due to increased investment in promotions.”
General Mills shares fell about 4% after the market opened on Wednesday and will enter negative territory in 2024.
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