General Mills: sales and profits fell, consumer savings and the trend of “consumer goods” also reaches breakfast cereals

By: Trademagazin Date: 2026. 03. 20. 10:51

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The more cautious spending of American households is already visible in breakfast cereals, which is sensitively affecting the big players in packaged foods. General Mills reported revenue in the third quarter of fiscal 2026 (the period ended February 22) down 8% to $4.44 billion, while operating income fell 41% to $525 million, and net profit fell to $303 million (roughly half of what it was a year earlier).

However, the company did not worsen its forecast for this fiscal year: it continues to expect a 1.5-2% organic sales decline and a 16-20% decline in profit lines (adjusted indicators).

According to a report by Reuters and Világgazdaság, demand is being pressured by several factors: caution due to war and geopolitical uncertainty, the increasing competition from discount/substitute products, and a new consumer trend: the spread of popular GLP-1 type weight loss drugs, which may reduce demand for certain food categories – such as carbohydrate breakfast products. General Mills is responding to this in part with protein-focused product innovations: the company aims for protein-focused offerings to account for about a quarter of net sales over time.