General Mills Q3 sales fall 5% and full-year sales and profit outlook is cut
General Mills reported fiscal 2025 third-quarter results for the quarter ended February 23, 2025, with net sales down 5% to $4.8 billion and diluted EPS down 4% to $1.12. It also lowered its full-year fiscal 2025 outlook, now expecting organic net sales down 2% to down 1.5% and adjusted operating profit and adjusted diluted EPS down 8% to down 7% in constant currency. For shareholders, this points to weaker sales and profit than the company previously expected, which it attributed to retailer inventory reductions and a slowdown in snacking categories.
Key points
- Third-quarter net sales were $4.8 billion, down 5%; organic net sales were also down 5%, including about 4 points of retailer inventory reductions and the expected reversal of certain second-quarter timing items.
- Diluted EPS was $1.12, down 4%; adjusted diluted EPS was $1.00, down 15% in constant currency.
- Full-year fiscal 2025 adjusted operating profit and adjusted diluted EPS are now expected to be down 8% to down 7% in constant currency, compared with the previous down 4% to down 2%.
- Holistic Margin Management is expected to deliver at least 5% cost of goods sold savings in fiscal 2026, about $600 million, and new cost-savings initiatives target at least $100 million.
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 19, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.