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19.03.2025 12:34:46
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General Mills Slashes FY25 Outlook - Update
(RTTNews) - While reporting financial results for the third quarter on Wednesday, branded food company General Mills, Inc. (GIS) slashed its adjusted earnings growth and organic net sales growth outlook for the full-year 2025.
For fiscal 2025, the company now projects constant-currency adjusted earnings per share decline in the 8 to 7 percent range on organic net sales to be down 2 to 1.5 percent.
Previously, the company expected constant-currency adjusted earnings per share decline in the 4 to 2 percent range on organic net sales to be between flat and up 1 percent.
On average, analysts polled expect the company to report earnings of $4.34 per share on revenues of $19.79 billion for the year. Analysts' estimates typically exclude special items.
As part of its industry-leading Holistic Margin Management productivity program, the company said it is expected to deliver at least 5 percent savings in cost of goods sold in fiscal 2026, which represents approximately $600 million in gross productivity savings.
In addition, the company has commenced a review of expected cost-savings initiatives that target savings of at least $100 million in fiscal 2026.
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