General Mills Misses Q3 Earnings Expectations

Group 1 - General Mills Inc. reported third-quarter results that missed Wall Street expectations, with adjusted earnings per share of $0.64, falling $0.09 short of the analyst consensus of $0.73 [1] - Revenue for the quarter totaled $4.4 billion, which was in line with estimates of $4.41 billion but represented an 8% decline compared to the prior-year period [1] Group 2 - The company reaffirmed its fiscal 2026 outlook, projecting organic net sales to decrease between 1.5% and 2% [2] - Adjusted operating profit and adjusted diluted earnings per share are expected to decline between 16% and 20% on a constant currency basis [2] Group 3 - During the quarter, organic net sales dropped 3%, driven by lower organic volume and unfavorable pricing and product mix [3] - The North America Retail segment experienced a 4% decline in organic net sales, although the company maintained or increased pound share in seven of its ten largest U.S. categories [3] - Adjusted operating profit was reported at $547 million, down 32% in constant currency, primarily due to reduced volumes and higher input costs [3]