General Mills, Inc. (NYSE: GIS) reported its fourth quarter 2024 earnings results today.
Net sales decreased 6% year-over-year to $4.7 billion. Organic net sales were down 6%.
Net earnings attributable to General Mills was $558 million, down 9% from last year. GAAP EPS declined 5% to $0.98 while adjusted EPS of $1.01 was down 10% in constant currency.
Earnings beat expectations while revenue missed estimates.
For fiscal year 2025, organic net sales are expected to range between flat and up 1%. Adjusted EPS is expected to range between down 1% and up 1% in constant currency from the base of $4.52 earned in fiscal year 2024.
The stock fell over 4% in premarket hours on Wednesday, following the announcement.