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00:02General Mills said its turnaround is progressing as it works to win back inflation-weary consumers,
00:07according to The Wall Street Journal.
00:08The Cheerios parent reported fiscal first-quarter adjusted earnings of $0.75 a share on revenue
00:13of $4.39 billion, beating Wall Street expectations of $0.72 and $4.35 billion.
00:20Sales fell 2.8 percent from a year earlier, primarily due to the sale of its U.S. yogurt
00:25business, while organic sales were essentially flat.
00:28CEO Jeff Harmoning said fiscal 2027 is off to an encouraging start as the company works
00:34to strengthen its turnaround.
00:36General Mills is increasing product innovation and marketing after spending last year investing
00:40in affordability.
00:41The company also plans to continue cutting costs and remains on track to deliver $750 million
00:46in savings this year and $3 billion by 2030.
00:50It maintained its full-year adjusted earnings outlook of $3 to $3.20 a share.
00:55For all things money, visit Benzinga.com.
