General Mills fails to hold stock gains as earnings beat by a narrow margin as consumers remain cautious

Shares of General Mills Inc. GIS surrendered early gains Wednesday, after the consumer-foods company posted slightly better-than-expected fiscal first-quarter earnings, but said the consumer is still wary in an uncertain economic climate.

“We delivered growth on the top and bottom lines in the first quarter amid an evolving external environment characterized by moderating inflation, stabilizing supply chains, and a resilient but increasingly cautious consumer,” Chief Executive Jeff Harmening said in a statement.

The…