Net earnings attributable to General Mills doubled to $1.2 billion, or $2.22 per share, from last year. Adjusted EPS was $0.86, down 20% in constant currency.
Earnings beat estimates while revenue came in line with expectations.
Net sales for the North America Retail segment were down 13% to $2.6 billion, while net sales for the North America Pet segment were up 6% to $610 million.
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Net sales for the North America Foodservice segment decreased 4% to $517 million while net sales for the International segment increased 6% to $760 million.
For fiscal year 2026, the company expects organic sales to range between down 1% and up 1%. Adjusted EPS is expected to be down 10-15% in constant currency.
The stock fell 3% in premarket hours on Wednesday.