General Mills Q1 Profit Plunges, Confirms FY27 Outlook

(RTTNews) - Branded consumer foods maker General Mills, Inc. reported Wednesday sharply lower profit in the first quarter of fiscal 2027, hurt by the absence of prior year's significant gain and weak net sales, both related to the sale of the U.S. yogurt business. Further, the firm maintained fiscal 2027 outlook. General Mills Chairman and CEO Jeff Harmening stated, "We are off to an encouraging start in fiscal 2027, driving improved topline performance.... We are also executing with discipline in a volatile environment, including delivering industry-leading cost savings through our Holistic Margin Management program and our global Transformation initiative.