General Mills slips after revenue miss and gloomy forecast
General Mills slipped in premarket trading after it reported earnings that missed analyst expectations and cut its annual forecast, citing a weak consumer.
The Lucky Charms and Pillsbury owner beat profit estimates but missed on revenue, reporting $4.8 billion for the three months ending February 23. Perhaps more worrying to investors was its outlook for the full year.
General Mills said it expects organic sales (aka same-store sales) to fall 1.5% to 2%, compared to its prior forecast that those sales would go up 1% or stay flat. And that’s without factoring in any impact from potential tariffs.
The company’s shares fell by about 4% in premarket trading. Its gloomy earnings report comes as Wall Street is increasingly worried about US consumers and economic uncertainty.
General Mills said it expects organic sales (aka same-store sales) to fall 1.5% to 2%, compared to its prior forecast that those sales would go up 1% or stay flat. And that’s without factoring in any impact from potential tariffs.
The company’s shares fell by about 4% in premarket trading. Its gloomy earnings report comes as Wall Street is increasingly worried about US consumers and economic uncertainty.
