General Mills down after annual sales and profit forecast cut

General Mills

17/02/2026 18:09

Updates

** Shares of Cheerios maker General Mills GIS.N down as much as 9.14% at $43.92

** Stock set for its worst day since March 2020 if losses hold

** Co cuts annual net sales, profit forecast ahead of CAGNY conference, hurt by weaker consumer sentiment

** "The industry backdrop remains challenging with a slower and higher cost of volume recovery than previously anticipated. This is particularly evident in the company’s cereal, snacks, and dog food categories" - Max Gumport, analyst at BNP Paribas Equity Research

** Co expects FY2026 net sales to be down 1.5% to 2%, compared with prior range of down 1% to an increase of 1%.

** Also expects annual adjusted EPS to be down 16% to 20% in constant currency vs. previous range of down 10% to 15%

** GIS fell 27% in 2025

(Reporting by Sanskriti Shekhar in Bengaluru)

((Sanskriti.Shekhar@thomsonreuters.com))