BUZZ-General Mills reaffirms annual forecasts, shares fall
General Mills, Inc.
General Mills, Inc. GIS | 0.00 |
** Shares of Cheerios maker General Mills GIS.N down ~1% at $38.42
** Co reaffirms annual sales and profit forecast, after slashing it last month as pressure on consumer spending and stiff competition muted demand for its pantry staples and snacks
** Maintains forecasts of annual adjusted profit declining 16% to 20% and organic sales to fall 1.5% to 2%
** Posts Q3 adjusted EPS of 64 cents vs. estimate of 73 cents - data compiled by LSEG
** Reports Q3 sales of $4.44 billion, compared with analysts' average estimate of $4.42 billion
** As of last close, stock down 18% YTD
