Wednesday, General Mills (NYSE: GIS) posted its fourth-quarter results before the bell. The company exceeded Wall Street expectations and reported an increase compared to a year earlier.
The firm recorded adjusted earnings of $0.95 per share for the quarter, surpassing the $0.80 per share expected by analysts and improving from $0.74 per share a year earlier.
General Mills generated revenue of $4.61 billion, which was higher than the $4.56 billion reported a year ago and above analyst expectations of $4.59 billion.
In the fourth quarter, the company reported an operating loss of $2.1 billion due to non-cash goodwill and brand intangible asset charges, along with a non-cash valuation loss related to the planned divestiture of the Brazil business. Adjusted operating profit increased by 13 percent in constant currency to $705 million.
For the full year, General Mills reported net sales of $18.4 billion, reflecting a 5 percent decline, including a 6-point headwind from divestitures and acquisitions and a 2-point benefit from the 53rd week. Organic net sales decreased by 2 percent. Adjusted diluted EPS was $3.55, down 16 percent in constant currency.
General Mills provided guidance for fiscal 2027, expecting earnings per share to range from $3.00 to $3.20, compared to analyst estimates of $3.13 per share.
Organic net sales are projected to range between a decline of 1.5 percent and an increase of 0.5 percent. Adjusted operating profit is anticipated to decrease by 13 percent to 8 percent in constant currency from the $2.8 billion base in fiscal 2026.
The board of directors declared a quarterly dividend of $0.61 per share, payable on August 3, 2026, to shareholders of record on July 10, 2026.
General Mills Chairman and Chief Executive Officer Jeff Harmening commented, “We finished fiscal 2026 on a positive note, delivering fourth-quarter adjusted results that met our expectations while continuing to strengthen our foundation to position General Mills for long-term success.”
In pre-market trading, General Mills, Inc. (NYSE: GIS) is up 4.28 percent at a price of $36.29, representing a rise of $1.49 from the previous close of $34.80.
