Tag: $General Mills

Pillsbury owner General Mills cut its annual sales and profit forecasts on Wednesday, as it takes a hit from choppy demand for salty snacks and pet food in North America amid competition from private-label rivals.

General Mills stock tumbled in premarket trading Wednesday after the packaged-food company reported better-than-expected fiscal second-quarter earnings but lowered its fiscal-year outlook.

Shares of the company were down about 1% as General Mills saw gross margins decline in the quarter. It reported a gross margin of 34.8% owing to higher input costs and an unfavorable inventory mix.

General Mills Inc. said Thursday it has reached an agreement to sell its North American yogurt business to French dairy companies Lactalis and Sodiaal for $2.1 billion in cash.

General Mills stock was falling after the branded food maker beat quarterly earnings estimates but fell short on sales.

General Mills stock was rising Wednesday after the branded food maker reported fiscal third-quarter earnings above Wall Street estimates and reaffirmed guidance.

Shares of General Mills Inc. GIS, +0.56% sank 4.7% in premarket trading Wednesday, after the consumer-foods company reported fiscal second-quarter profit that beat expectations, while revenue missed and the full-year outlook as consumers continue “stronger-than-expected value-seeking behaviors.”

General Mills  reported fiscal first-quarter earnings and sales that slightly beat analysts’ estimates and reiterated fiscal-year guidance.

General Mills’ full-year profit forecast on Wednesday came in largely below analysts’ estimates as the U.S. packaged food maker battles with slow demand for its ready-to-eat cereals and meal kits due to higher prices.