Inferra AI / Company / GIS
General Mills
GIS · Consumer Staples
Last earnings Sep 23, 2026
Key results
Net incomequarter
$397 million
Net earnings attr ibutable to General Mills of $397 million were down 67 percent and diluted EPS was down 67 percent to $0.74, driven primarily by lower operating profit.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
EPSquarter
67 percent
Net earnings attr ibutable to General Mills of $397 million were down 67 percent and diluted EPS was down 67 percent to $0.74, driven primarily by lower operating profit.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
Adjusted EPSquarter
$0.75
Adjusted diluted EPS of $0.75 was down 13 percent in constant currency, driven primarily by lower adjusted operating profit and higher net interest expense.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
Revenuequarter
$613 million
North America Pet Segment First-quarter net sales for the North America Pet segment of $613 million essentially matched year-ago levels.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
North America Foodservice Segment First-quarter net sales for the North America Foodservice segment were up 1 pe rce nt to $523 mil lion, includin g a 2-point hea dwind from the U.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
2 International Segment First-quarter net sales for the Inte rnational segment increased 4 percent to $794 million, including a 1-point benefit from foreign currency exchange.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
Basis Pt Change gross marginquarter
33.9 %
24, 2025 Basis Pt Change Gross margin 33.9 % 33.9 % Flat Selling, general, and administrative expenses 19.0 % 18.7 % 30 Operating profit 14.4 % 38.2 % (2,380) Net earnings attributable to General Mills 9.0 % 26.7 % (1,770) Quarter Ended Adjusted comparisons as a % of net sales (a) Aug.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
Pt Change Adjusted gross marginquarter
33.3 %
24, 2025 Basis Pt Change Adjusted gross margin 33.3 % 34.2 % (90) Adjusted operating profit 14.4 % 15.7 % (130) Adjusted net earnings attributable to General Mills 9.2 % 10.4 % (120) (a) See Note 7 for a reconciliation of these measures not defined by generally accepted accounting principles (GAAP).
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
Adjusted net incomequarter
9.2 %
24, 2025 Basis Pt Change Adjusted gross margin 33.3 % 34.2 % (90) Adjusted operating profit 14.4 % 15.7 % (130) Adjusted net earnings attributable to General Mills 9.2 % 10.4 % (120) (a) See Note 7 for a reconciliation of these measures not defined by generally accepted accounting principles (GAAP).
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
24, 2025 Basis Pt Change Segment operating profit as a % of net sales North America Retail 19.5 % 21.5 % (200) International 9.5 % 8.6 % 90 North America Pet 16.2 % 18.5 % (230) North America Foodservice 15.2 % 13.7 % 150 Total segment operating profit 16.7 % 18.0 % (130) See accompanying notes to consolidated financial statements.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
AI analysis
Q1 FY2027 · reported Sep 23, 2026
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q1 FY2027 | Prior qtr | Year ago |
|---|---|---|---|
| Net income | $397 million | — | — |
| EPS | 67 percent | — | — |
| Adjusted EPS | $0.75 | — | — |
| Revenue | $613 million | — | — |
| Basis Pt Change gross margin | 33.9 % | — | — |
| Pt Change Adjusted gross margin | 33.3 % | — | — |
| Adjusted net income | 9.2 % | — | — |
Guidance · company-stated
Direction: Reiterated
“htm EX-99 Document Exhibit 99 FOR IMMEDIATE RELEASE September 23, 2026 General Mills Reports Fiscal 2027 First-quarter Results and Reaffirms Full-year Outlook Net sales of $4.”
“75 was down 13 perce nt in constant currency Company reaffirms full-year fiscal 2027 outlook 1 Please see Note 7 to the Consolidated Financial Statements below for reconciliation of this and other non-GAAP measures used in this release.”
Classified from the release's primary full-year outlook statement.
Margin
Capital allocation
Dividends paid totaled $330 million compared to $331 million a year ago.
Event summary
First Quarter Results Summary Net sales were down 3 percent to $4.4 billion , driven by the impact of the U.S
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
Direction: Reiterated
Revenue: “htm EX-99 Document Exhibit 99 FOR IMMEDIATE RELEASE September 23, 2026 General Mills Reports Fiscal 2027 First-quarter Results and Reaffirms Full-year Outlook Net sales of $4.”
Revenue — Reiterated (“Reaffirms”)
“htm EX-99 Document Exhibit 99 FOR IMMEDIATE RELEASE September 23, 2026 General Mills Reports Fiscal 2027 First-quarter Results and Reaffirms Full-year Outlook Net sales of $4.”
Company outlook — Reiterated (“reaffirms”)
“75 was down 13 perce nt in constant currency Company reaffirms full-year fiscal 2027 outlook 1 Please see Note 7 to the Consolidated Financial Statements below for reconciliation of this and other non-GAAP measures used in this release.”
Classified from the release's primary full-year outlook statement.
Capital allocation
Dividends paid totaled $330 million compared to $331 million a year ago.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
The company did not repurchase shares in the first quarter of fiscal 2027 compared to $500 million in share repurchases a year ago.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
14 (7) Debt The components of notes payable and their respective weighted-average interest rates were as follows: Aug.
SEC original ↗General Mills — 10-Q Quarterly report10-QSep 23, 2026
The following table details the credit facilities and lines of credit we had available as of August 30, 2026 : In Millions Borrowing Capacity Borrowed Amount Committed credit facility expiring October 2029 $ 2,700.0 $ Uncommitted credit facilities and lines of credit 776.4 11.6 Total $ 3,476.4 $ 11.6 We are in compliance with all credit facility covenants.
SEC original ↗General Mills — 10-Q Quarterly report10-QSep 23, 2026
Long-Term Debt The fair value of our long-term debt was estimated using market quotations and discounted cash flows based on our current incremental borrowing rates for similar types of instruments.
SEC original ↗General Mills — 10-Q Quarterly report10-QSep 23, 2026
Long-term debt is a Level 2 liability in the fair value hierarchy.
SEC original ↗General Mills — 10-Q Quarterly report10-QSep 23, 2026
Strategy & priorities
We are off to an encouraging start in fiscal 2027, driving improved topline performance with stronger product innovation and renovation focused on the benefits consumers are looking for today, said General Mills Chairman and Chief Executive Officer Jeff Harmening.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
We are also executing with discipline in a volatile environment, including delivering industry-leading cost savings through our Holistic Margin Management program and our global Transformation initiative.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
Building More Remarkable Brands General Mills is investing in its brands to restore profitable organic net sales growth, with initiatives that touch all elements of the company s Remarkable Experience Framework product, packaging, brand communication, omnichannel execution, and consumer value.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
The segment drove a 2-point sequential improvement in retail sales growth in the quarter, with dollar share trends strengthening in the majority of its priority categories.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
The segment delivered another quarter of strong competitive performance, holding or gaining market share across 100 percent of its priority businesses.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
Risks & headwinds
Changes in retailer inventory were a modest headwind to the segment s first-quarter results.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
The company continues to expect retailer inventory will be a low-single-digit headwind to full-year organic net sales results for North America Pet, including the impact of changes in customer mix.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
In addition to those factors, the company continues to expect headwinds of approximately 9 points on operating profit and 11 points on EPS in fiscal 2027 from lapping the 53rd week in fiscal 2026, normalizing corporate incentive expense, and the impact of fiscal 2026 divestitures.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
Harmening, are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements.
SEC original ↗General Mills — Earnings release (8-K exhibit)EX-99Sep 23, 2026
In addition, we identified a triggering event due to a sustained decline in market capitalization and stock price in the fourth quarter of fiscal 2026 reflecting heightened macroeconomic uncertainty and lower market multiples in our industry, which caused a related increase in our discount rates and required an interim impairment assessment.
SEC original ↗General Mills — 10-Q Quarterly report10-QSep 23, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
30 documents- Q3 2026
- 8-KGIS
Oct 2, 2026
- Q2 2026
- 8-KGIS
Sep 30, 2026
- 10-QGIS
Sep 23, 2026
- 8-KGIS
Sep 23, 2026
- 10-KGIS
Jul 1, 2026
- 8-KGIS
Jul 1, 2026
- Q1 2026
- 8-KGIS
May 6, 2026
- 8-KGIS
May 4, 2026
- 8-KGIS
Apr 16, 2026
- Q4 2025
- 10-QGIS
Mar 18, 2026
- 8-KGIS
Mar 18, 2026
- 8-KGIS
Jan 27, 2026
- Q3 2025
- 10-QGIS
Dec 17, 2025
- 8-KGIS
Dec 17, 2025
- 8-KGIS
Oct 3, 2025
- 8-KGIS
Oct 1, 2025
- Q2 2025
- 10-QGIS
Sep 17, 2025
- 8-KGIS
Sep 17, 2025
- Q1 2025
- 10-KGIS
Jun 26, 2025
- 8-KGIS
Jun 25, 2025
- 8-KGIS
May 27, 2025
- 8-KGIS
May 19, 2025
- 8-KGIS
Apr 17, 2025
- Q4 2024
- 10-QGIS
Mar 19, 2025
- 8-KGIS
Mar 19, 2025
- 8-KGIS
Mar 5, 2025
- 8-KGIS
Feb 4, 2025
- Q3 2024
- 10-QGIS
Dec 18, 2024
- 8-KGIS
Dec 18, 2024
- 8-KGIS
Nov 21, 2024
Earnings releases
11 documentsPresentations
0 documentsNo presentations for General Mills are held in this edition of the library.
Transcripts
0 documentsNo transcripts for General Mills are held in this edition of the library.
Mentioned by
5 companiesOther tracked companies whose held documents mention General Mills by name or ticker. A mention is counted once per document, from the document text the library holds.
“ail (2) pts (1) pt (3)% -- (4) pts (7)% North… …(0.2) NM Net earnings attributable to General Mills $ 397.0 $ 1,204.2 (67) % Earnings per share – basic $ 0.74 $ 2.22 (67) % Earnings per share – diluted $ 0.74 $ 2.22 (67) % Quarter Ended ”
“ds paid of $676 million were down 2 percent, reflecting lower average shares outstanding. General Mills… …adjusted operating profit of $1.1 billion increased 7 percent in constant currency Diluted earnings per share (EPS) of $1.42 was”
“he 53rd week; organic net sales¹ were down 2 percent • Operating profit… …attributable to General Mills $ (87.6) (104) % $ 2,295.2 (8) % $ 2,496.6 (Loss) earnings per share — basic $ (0.16) (104) % $ 4.12 (5) % $ 4.34 (Loss) earnings per share — ”
“es costs, net of reversals, related to workforce and real estate optimization and other… …GIS (8.6) % (9.0) % (7.2) % (5.2) % (7.5) % Insurance 6.2 % 5.3 % 6.4 % 1.1 % 4.7 % Total organic revenue growth (4.4) % (5.6) % (4.2) % (4.2) % (4.6) % ”
“d Lower Maintenance Expense Increased Energy Efficiency Reduced Hiring and Training Costs GIS Segment Growth Automated vs. Conventional Build Tradeoffs Upside to Future M&A Competitive…”
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