General Mills (GIS) is losing ground in early trading on Wednesday following the release of its quarterly results.
The stock is down $0.79, or 2 percent, to $37.36.
The company revealed a profit for the fourth quarter that edged up from last year, reflecting double-digit sales growth. However, the company issued a gloomy outlook due in part to rising grains prices.
The Minneapolis, Minnesota-based maker of Cheerios and Fiber One cereals reported net earnings of $325.4 million or $0.49 per share for the fourth quarter, slightly higher than $320.2 million or $0.48 per share in the prior-year quarter.
General Mills provided an adjusted earnings forecast of $2.65 per share for the year, with Street currently looking for $2.75 per share. The company also sees net sales growth for the year at a mid-single-digit rate.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.