General Mills, Inc. (NYSE:GIS) stock took a hit today following the release of its earnings report for its fiscal first quarter of 2018.

During its fiscal first quarter of 2018, General Mills, Inc. reported earnings per share of 71 cents. This is down from its earnings per share of 78 cents from the same time last year. This was bad news for GIS stock, as analysts were expecting earnings per share for the quarter to reach 76 cents.

Revenue reported by General Mills, Inc. in its fiscal first quarter of 2017 was $3.77 billion. This is a drop from its revenue of $3.91 billion reported in its fiscal first quarter of 2017. The company’s revenue for the quarter was also a blow to GIS stock by coming in below analysts’ estimate of $3.79 billion.

General Mills, Inc. notes that its revenue was down in its fiscal first quarter of 2017 due to declining sales of Yoplait Greek and Yoplait Light products. These products saw sales in North America decline by double digits. The company’s North America retail segment suffered a 5% drop in revenue during the quarter.

“We anticipated a slow start to the year on the bottom line, and we continue to expect sequential improvement in profitability in the coming quarters,” General Mills, Inc. CEO Jeff Harmening said in a statement.

General Mills, Inc. says that it is sticking with its fiscal 2018 outlook provided earlier this year. The company is expecting earnings per share to be up by 1% to 2% from the $3.08 it earned last year. Wall Street is looking for GIS to report earnings per share of $3.10 in fiscal 2018.

GIS stock was down 5% as of Wednesday afternoon and is down 15% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.