General Mills down after annual sales and profit forecast cut

Shares of Cheerios maker General Mills GIS.N down as much as 9.14% at $43.92

Stock set for its worst day since March 2020 if losses hold

Co cuts annual net sales, profit forecast ahead of CAGNY conference, hurt by weaker consumer sentiment

"The industry backdrop remains challenging with a slower and higher cost of volume recovery than previously anticipated. This is particularly evident in the company’s cereal, snacks, and dog food categories" - Max Gumport, analyst at BNP Paribas Equity Research

Co expects FY2026 net sales to be down 1.5% to 2%, compared with prior range of down 1% to an increase of 1%.

Also expects annual adjusted EPS to be down 16% to 20% in constant currency vs. previous range of down 10% to 15%

GIS fell 27% in 2025