(fxcue news) - Shares of General Mills, Inc. were losing around 6 percent in the pre-market activity on the NYSE after the branded food company on Wednesday trimmed its fiscal 2025 earnings view, and said it sees net sales at the lower end of estimate range, citing increased promotional investment. This was despite reporting higher second-quarter profit and revenues, above market estimates. General Mills Chairman and Chief Executive Officer Jeff Harmening said, "We made important progress accelerating our volume growth and market share trends in the first half of the year, including returning our North America Pet business to growth. To achieve and build on these enterprise-wide gains, we've made incremental investments... While these investments lower our profit outlook for fiscal 2025, they better position General Mills for sustainable growth in fiscal 2026 and beyond." General Mills said it is executing its Accelerate strategy to drive sustainable, profitable growth and top-tier shareholder returns over the long term. For fiscal 2025, the company now expects adjusted earnings per share to range between down 3 percent and down 1 percent, compared to the previous range of between down 1 percent and up 1 percent, both in constant currency. Adjusted operating profit is now expected to range between down 4 percent and down 2 percent in constant currency, compared to the previous range of between down 2 percent and flat, reflecting higher investment levels. For the year, organic net sales are still expected to range between flat and up 1 percent, but the the company now targets the lower end of the range due to increased promotional investment. Organic net sales results in the second half are expected to include a 1-point headwind from the reversal of timing-related benefits in the second quarter. The revised outlook exlcudes an impact from the proposed North American Yogurt divestitures and the acquisition of Whitebridge Pet Brands' North American portfolio. In its second quarter, General Mills' net earnings attributable totaled $795.7 million or $1.42 per share, compared to $595.5 million or $1.02 per share last year. Net earnings grew 34 percent and earnings per share climbed 39 percent from the prior year. Adjusted earnings were $785.2 million or $1.40 per share for the period, compared to $1.25 per share a year ago. Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Operating profit of $1.1 billion was up 33 percent, and operating profit margin of 20.6 percent was up 480 basis points. Adjusted operating profit increased 7 percent in constant currency, and adjusted operating profit margin was up 100 basis points to 20.3 percent. The company's net sales for the quarter rose 2 percent to $5.24 billion from $5.14 billion last year, driven by higher pound volume partially offset by unfavorable net price realization and mix. Organic net sales were up 1 percent. The Street was looking for $5.14 billion sales for the quarter. In pre-market activity on the NYSE, General Mills shares were trading at $62.19, down 5.67 percent. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.