WASHINGTON (dpa-AFX) - While reporting financial results for the third quarter on Wednesday, branded food company General Mills, Inc. (GIS) said it continues to project adjusted earnings per share to decline 16 to 20 percent on organic net sales decline of 1.5 to 2 percent for the full-year 2026.
The company also expects benefits from the 53rd week, favorable timing comparisons, and continued strong competitiveness to drive significant sequential improvement in net sales, operating profit, and earnings per share performance in the fourth quarter.
General Mills said its top priority is to restore volume-driven organic net sales growth over the long term.
For fiscal 2026, the Company expects category growth to be below its long-term projections, reflecting less benefit from price/mix amid a continued challenging consumer backdrop.
To strengthen its categories and market share performance, the Company is increasing investment in consumer value, product news, innovation, and brand building, guided by its Remarkable Experience Framework. This includes a significant strategic investment to launch Blue Buffalo into the fast-growing U.S. fresh pet food sub-category.
In Wednesday's pre-market trading, GIS is trading on the NYSE at $38.52, up $0.23 or 0.59 percent.
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