General Mills Q3 Sales Drop 8%, EPS Plunges 37% on Investments, Divestitures
Summary
General Mills reported a significant decline in its fiscal Q3 2026 results, with net sales falling 8% (3% organic) to $4.4 billion and adjusted diluted earnings per share tumbling 37% to $0.64. The company attributed these declines to increased brand investments and the divestiture of its North American yogurt business. While the CEO anticipates a "step up" in organic sales and a return to earnings growth in the current quarter, the full-year guidance projects organic net sales to fall 1.5-2% and adjusted diluted EPS to be down 16-20%. This substantial earnings miss for a major consumer staples company is highly material, particularly as the stock is trading near its 52-week low. Traders will closely monitor the company's ability to execute its strategy to restore volume-driven organic net sales growth and achieve the projected recovery in the upcoming quarter.
At the time of this announcement, GIS was trading at $38.11 on NYSE in the Trade & Services sector, with a market capitalization of approximately $20.7B. The 52-week trading range was $38.59 to $62.61. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: ShareCast.