Overview
- General Mills reported adjusted EPS of $0.64 for Q3 FY2026, missing the $0.73 consensus, as revenue fell 8% to $4.44 billion and slightly topped forecasts.
- Organic net sales declined about 3%, underperforming Nielsen-tracked retail sales by roughly 1.5 percentage points, signaling market-share losses.
- Management left its reduced full-year guidance unchanged, calling for organic revenue down 1.5%–2% and adjusted earnings lower by 16%–20%.
- Shares edged lower premarket and remain down about 17% in 2026 and over 34% in the past year, putting the stock near $39 and lifting the dividend yield to roughly 6.3%.
- Analysts flagged dividend risk tied to $683 million in cash versus $23.86 billion in liabilities and weaker quarterly free-cash-flow coverage, with Wells Fargo cutting the stock to Underweight at $35 and Barclays trimming its target to $43.