GIS - General Mills Lowers Guidance Warning About Weak Consumer Trends in 2024
2024-01-18 05:30:00 ET
When General Mills (NYSE: GIS) reported fiscal 2024 second-quarter earnings on Dec. 20, the news was mixed. While the company managed to grow adjusted earnings 14% year over year, the business still fell short of management's expectations in key areas. There were two notable takeaways from this, one about the company and one about the broader consumer environment.
It's kind of hard to complain when a company increases earnings at a double-digit pace, so on some level, General Mills is doing OK. But when you look past that headline number, there were a few troubling trends.
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General Mills Lowers Guidance, Warning About Weak Consumer Trends in 2024