Pillsbury Maker General Mills Annual Profit Outlook Disappoints, Stock Falls
Portfolio Pulse from Shivani Kumaresan
General Mills (NYSE: GIS) reported disappointing Q4 FY24 revenue, leading to a 4.97% drop in its stock price. The company saw a 6.3% decline in sales year-on-year, missing analyst estimates. Despite a slight beat in adjusted EPS, the outlook for FY25 remains tepid with minimal expected growth.
June 26, 2024 | 1:04 pm
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General Mills reported a 6.3% decline in Q4 FY24 sales, missing analyst estimates. Despite a slight beat in adjusted EPS, the company's FY25 outlook shows minimal growth. The stock fell 4.97% in premarket trading.
The significant decline in Q4 FY24 sales and the miss on analyst estimates have negatively impacted investor sentiment. The minimal growth outlook for FY25 further adds to the bearish sentiment, leading to a 4.97% drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100