Basic Mills, Inc. (NYSE: GIS) reported its first quarter 2026 earnings outcomes in the present day.
Internet gross sales had been down 7% year-over-year to $4.5 billion. Natural gross sales had been down 3%.
Internet earnings attributable to Basic Mills doubled to $1.2 billion, or $2.22 per share, from final yr. Adjusted EPS was $0.86, down 20% in fixed foreign money.
Earnings beat estimates whereas income got here in keeping with expectations.
Internet gross sales for the North America Retail phase had been down 13% to $2.6 billion, whereas internet gross sales for the North America Pet phase had been up 6% to $610 million.
Internet gross sales for the North America Foodservice phase decreased 4% to $517 million whereas internet gross sales for the Worldwide phase elevated 6% to $760 million.
For fiscal yr 2026, the corporate expects natural gross sales to vary between down 1% and up 1%. Adjusted EPS is anticipated to be down 10-15% in fixed foreign money.
The inventory fell 3% in premarket hours on Wednesday.