General Mills drops after posting mixed Q4 results along with soft guidance
The pantry powerhouse says shoppers are eating more at home, but pulling back on name brands.
General Mills shares slipped over 2% Wednesday morning after the Cheerios and Pillsbury parent posted mixed Q4 earnings and slashed its full-year forecast.
Adjusted diluted earnings per share came in at $0.74, beating Wall Street’s estimate of $0.71 but down a massive 27% from the same quarter last year. Meanwhile, sales fell 3% to $4.56 billion, narrowly missing the $4.58 billion analysts expected.
For the 2026 fiscal year (the 12 months starting June 2025), General Mills set its adjusted EPS outlook at between $3.58 and $3.79, well below analysts’ estimates for $3.99. The company also forecast flat to slightly negative organic sales, citing rising tariffs and shifting consumer behavior.
CEO Jeffery Harmening noted that while more Americans are eating at home, the shift hasn’t delivered the expected boost to the company.
“The US consumer is stressed financially. They’re still buying, but they are stressed. You can see US consumer debt has risen. As a result, consumers are looking for value,” he said at the annual Deutsche Bank consumer conference.
General Mills has now posted sales declines in five of the past six quarters as shoppers trade down from name brands to cheaper private-label options.
The stock is now down about 16% year to date.
