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Investors clearly didn't want too many servings of food industry mainstay General Mills (GIS -5.00%) on Wednesday. Following the release of a disappointing set of earnings, they assertively traded out of the company's stock to leave it with a 5% decline on the day.
MINNEAPOLIS--(BUSINESS WIRE)--Cinnamon Toast Crunch has always embraced the absurd. But what's happening right now is more than just absurd — it's unheard of. In an unexpected turn of breakfast events, the crunchy, swirly Cinnadust-covered cereal squares are eating each other. Notorious for their rowdy, chomp-happy behavior, the squares are spiraling further out of control than ever before, and we're still uncovering how far it's gone.
General Mills CEO Jeff Harmening said Wednesday that amid economic uncertainty, consumers are pulling back on spending, seeking value and eating more at home.
General Mills CEO: The consumer is still spending but uncertain, it makes for a volatile environment
Jeff Harmening, General Mills CEO, joins 'Money Movers' to discuss consumer demand challenges, economic uncertainty and earnings.
Pre-market futures are fluctuating a bit at this hour, starting even with yesterday's close, then swelling nicely on the tech-heavy Nasdaq. Indexes are carrying these levels more or less straight across presently, with the Dow -12 points at this hour, the S&P 500 +7 points, the Nasdaq +84 points and the small-cap Russell 2000 +1 point.
Fed Chair Powell addresses the Senate today, and Micron reports earnings after today's closing bell.
General Mills Inc (NYSE:GIS, ETR:GRM) on Wednesday forecast a steeper-than-expected drop in full-year profit, citing weaker demand for snacks and refrigerated baked goods, along with rising costs and tariff pressures that are expected to weigh on margins. The Cheerios maker said it expects fiscal 2026 adjusted operating income to fall between 10% and 15%, a sharper decline than the 6.5% drop analysts polled by LSEG had estimated.
While the top- and bottom-line numbers for General Mills (GIS) give a sense of how the business performed in the quarter ended May 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
General Mills will look to keep prices low, with a focus on sales growth.
General Mills (GIS) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $1.01 per share a year ago.