GIS - Pillsbury Maker General Mills Annual Profit Outlook Disappoints Stock Falls | Benzinga
General Mills, Inc (NYSE:GIS) shares are trading lower after the company reported worse-than-expected fourth quarter FY24 revenue.
The company reported a fourth quarter sales decline of 6.3% year-on-year to $4.71 billion, missing the analyst consensus estimate of $4.85 billion.
The revenue decrease reflected unfavorable net price realization and mix and lower pound volume.
Organic net sales decreased 6% and slowed from the third-quarter trend.
North American retail segment sales declined 7% to $2.85 billion, pet segment sales declined 8% to $602 million, and International segment sales fell 10% to $668 million.
Adjusted EPS ...