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2026-02-22 04:25:00 ET

General Mills (NYSE: GIS) fell 7% on Feb. 17 after unexpectedly cutting its full-year fiscal 2026 guidance.

General Mills now expects organic net sales to decline between 1.5% and 2%, compared to a previous range of down 1% to up 1%. Meanwhile, adjusted diluted earnings per share (EPS) are now expected to fall by 16% to 20%, down from a previous range of a 10% to 15% decline.

The update was startling, given that General Mills reaffirmed its prior guidance just two months ago when it reported its second-quarter fiscal 2026 earnings.

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