WASHINGTON (dpa-AFX) - General Mills, Inc. (GIS), a food company, on Wednesday reported its net income decreased in the second quarter compared with the previous year.
For the second quarter, net income decreased 48 percent to $413 million from $795.7 million in the previous year.
Earnings per share were $0.78 versus $1.42 last year.
On the adjusted basis, net income slid to $590.6 million from $785.2 million in the previous year.
Adjusted earnings per share were $1.10 versus $1.40 last year.
Operating profit declined 32 percent to $728 million from $1.08 billion in the prior year.
Net sales decreased 7 percent to $4.86 billion from $5.24 billion in the previous year.
Further, the company reaffirmed its full-year 2026 outlook.
The group expected organic net sales to range between down 1 percent and up 1 percent.
Adjusted operating profit and adjusted diluted EPS are both expected to be down 10 to 15 percent in constant currency for the full year 2026.
In the pre-market trading, General Mills is 1.62% higher at $47.77 on the New York Stock Exchange.
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