General Mills, Inc. (NYSE:GIS): the packaged foods giant slashed its sales and earnings outlook for 2017 amid weak sales performance in its soup and yogurt segments.

Written by StockNews.com

The company now expects:

• 2017 EPS growth of 5 to 7% on a constant currency basis. Previously, it had pegged 6% to 8% EPS growth.
• Full-year organic net sales to fall about 4%, which is at the low end of GIS’ prior outlook for a 3% to 4% decline.
• Its free cash flow forecast growth rate to be in the mid single-digits, versus a previous view in the high single-digits.

The company commented via press release:

…In response to revised second-half growth expectations driven largely by recent sales performance on U.S. yogurt and soup, the company is reducing its sales and earnings outlook for the fiscal year ending May 2017. The company expects to deliver an adjusted operating profit margin of at least 18 percent in fiscal 2017, which represents an increase of at least 120 basis points over fiscal 2016 levels.

...Year-to-date, GIS has declined -2.63%, versus a 4.72% rise in the benchmark S&P 500 index during the same period.

GIS currently has a StockNews.com POWR Rating of B (Buy), and is ranked #18 of 62 stocks in the Food Makers category.