Workflow
General Mills Q3 Revenue Falls 5%

The decline in operating profit was exacerbated by lower gross profit and elevated selling, general, and administrative expenses. The company's reported operating profit decreased to $891 million, down 2% year over year, while its adjusted operating profit dropped 12.4% in constant currency. The decrease in diluted EPS to $1.12 reflects these fiscal pressures, compounded by a higher effective tax rate. Overall, the quarter suggested financial pressures, and the company lowered its guidance for the remainder ...