🔹 Adj. EPS: $1.00 (Est. $0.97) 🟢
🔹 Revenue: $4.84B (Est. $4.97B) 🔴 (-5% YoY)
🔹 Organic Net Sales: -5% (Est. -2.67%) 🔴
🔹 Oper. Profit: $891M (-2% YoY)
Cuts FY25 Guidance:
🔹 Organic Net Sales: -1.5% to -2.0% (Prev. 0% to +1%) 🔴
🔹 Adj. EPS (Constant FX): Now -7% to -8% (Prev. -1% to -3%) 🔴
🔹 Free Cash Flow Conversion: Expected at least 95% of adj. after-tax earnings
Key Takeaways & Commentary
🔹 Missed revenue estimates & cut guidance, reflecting weaker demand and retailer inventory reductions.
🔹 Higher competition from private labels, particularly in snacking & foodservice categories.
🔹 Pet segment & Pillsbury refrigerated dough saw improvements but were offset by softness in other key categories.
🔹 Cost savings efforts (HMM productivity & new initiatives) expected to fund growth investments in FY26.
