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Pillsbury Maker General Mills Annual Profit Outlook Disappoints, Stock Falls

General Mills, Inc (NYSE:GIS) shares are trading lower after the company reported worse-than-expected fourth quarter FY24 revenue. The company reported a fourth quarter sales decline of 6.3% year-on-year to $4.71 billion, missing the analyst consensus estimate of $4.85 billion. The revenue decrease reflected unfavorable net price realization and mix and lower pound volume. Organic net sales decreased 6% and slowed from the third-quarter trend. North American retail segment sales declined 7% to $2.85 billion, pet segment sales declined 8% to $602 million, and International segment sales fell 10% to $668 million. Adjusted EPS ...