July 1 (Reuters) – General Mills beat fourth-quarter profit and sales estimates on Wednesday, as an increase in consumers choosing to eat at home over dining out boosted demand for the Cheerios maker’s pantry staples and breakfast cereals.
The company’s shares, which have declined 25% so far in 2026, were up 3% in premarket trading.
Budget-conscious consumers, hurt by still-high inflation and the rising cost of living, are increasingly eating at home rather than dining out, helping demand for packaged food makers like General Mills.
On an adjusted basis, the company posted a quarterly profit of 95 cents per share. Analysts on average estimated 80 cents per share, according to data compiled by LSEG.
The company posted sales of $4.61 billion for the quarter ended May 31, compared with an estimated $4.60 billion.
(Reporting by Koyena Das in Bengaluru; Editing by Joyjeet Das)
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