WASHINGTON (dpa-AFX) - General Mills, Inc. (GIS), a manufacturer of branded foods, Tuesday said that it has further reduced its outlook for fiscal 2026.
Following this, the stock was down 3.43% in the pre-market trade.
The company cited that weak consumer sentiment, heightened uncertainty, and significant volatility have weighed on category growth and impacted consumer purchase patterns, resulting in a slower pace and higher cost of volume recovery than initially expected.
Consequently, the company is now expecting adjusted diluted EPS and Adjusted operating profit to be down 16 to 20 percent as compared to the previous guidance of down 10 to 15 percent.
Organic net sales are now expected to be down 1.5 to 2 percent, compared to the previous outlook of down 1 percent to up 1 percent.
In pre-market activity, GIS shares were trading at $46.67, down 3.43% on the New York Stock Exchange.
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