General Mills Misses Q3 Earnings Expectations

General Mills Inc. (NYSE: GIS) reported third-quarter results that fell short of Wall Street expectations, with earnings missing forecasts and sales declining year over year.

The company posted adjusted earnings per share of $0.64, falling $0.09 below the analyst consensus of $0.73. Revenue totaled $4.4 billion, largely in line with estimates of $4.41 billion, but represented an 8% decline compared with the prior-year period.

General Mills reaffirmed its fiscal 2026 outlook, projecting organic net sales to decrease between 1.5% and 2%. The company also expects adjusted operating profit and adjusted diluted earnings per share to decline between 16% and 20% on a constant currency basis.

During the quarter, organic net sales dropped 3%, driven by lower organic volume as well as unfavorable pricing and product mix. The North America Retail segment recorded a 4% decline in organic net sales, although the company maintained or increased pound share in seven of its ten largest U.S. categories.

Adjusted operating profit came in at $547 million, down 32% in constant currency, primarily due to reduced volumes and higher input costs.