General Mills sees FY25 adjusted EPS down 7%-8%

Sees FY25 organic net sales down 1.5%-2%. Sees FY25 free cash flow conversion at least 95%. The company expects macroeconomic uncertainty to continue to impact consumers in the fourth quarter. Its fourth-quarter plans include investments in consumer value, media support, and in-store visibility. In addition, the company plans to make investments in the fourth quarter in advance of significant fiscal 2026 new product launches. This guidance does not include any impact from new tariff actions in 2025. “We’re focused on improving our sales growth in fiscal 2026 by stepping up our investment in innovation, brand communication, and value for consumers,” Harmening continued. “We’ll fund that investment with another year of industry-leading HMM productivity, coupled with expected new cost-savings initiatives designed to further boost our efficiency and enable growth.”