General Mills Inc
- General Mills Inc. eased 1.9% to $59.31 after the food provider and parent company of Cheerios reported lower sales in the third quarter of fiscal 2025 ending in February.
Net sales dropped 5% to $4.84 billion from $5.10 billion, net income declined 7% to $625.6 million from $670.1 million, and diluted earnings per share edged down to $1.12 from $1.17 a year ago.
The North America retail segment accounted for the highest percentage of total sales, down 7% to $3.01 billion from $3.24 billion a year earlier.
“The company expects macroeconomic uncertainty to continue to impact consumers in the fourth quarter. Its fourth-quarter plans include investments in consumer value, media support, and in-store visibility,” the company said in a release to investors.
Excluding new tariff threats, General Mills estimated net sales in the fourth quarter to be down between 2% and 1.5%, compared to the previous guidance of the lower end in the range between flat and up 1%.
Adjusted operating profit and adjusted diluted earnings per share are expected to be down between 8% and 7% in constant currency, compared to the previous guidance range of between down 4% and down 2%.
Free cash flow conversion is still expected to be at least 95% of adjusted after-tax earnings.
Mar 20, 2025
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