General Mills Results Likely to Indicate 'Tough' Operating Backdrop for Packaged Food Businesses, RBC Says
The maker of Cheerios and Dunkaroos is scheduled to report its fiscal third-quarter results Wednesday.
RBC lowered its per-share earnings estimate to
"We remain conservative on (the quarterly) results due to retailer inventory dynamics and negative read throughs from competitors, coupled with macroeconomic and political volatility that is causing further consumer unease," RBC said in a note to clients.
In December,
"Given that we expect a soft (third quarter), we believe that organic growth guidance for the (full year) should be lowered, and we are more comfortable at the low end of the current EPS guide," RBC wrote. "Overall, we expect (
Broadly speaking, the sentiment for the packaged food and snacking space continues to be "overwhelmingly pessimistic," the brokerage wrote.
RBC maintained its
The company's shares were up 2.7% in Monday late-afternoon trade. The stock is down 4.1% so far in 2025.
Price: 61.05, Change: +1.49, Percent Change: +2.50
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