General Mills, Inc.: Beat — EPS $0.75, Revenue $4.39B
Earnings Report· 2026-09-23
GIS
Q1 · 2027Pre-MarketGeneral Mills, Inc.
@trystockwhiz
EARNING PER SHARE
Actual ($)
0.75
-13.00% YoY
Expected
0.72
Beat
+4.17%
REVENUE
Actual ($)
4.39B
-3.00% YoY
Expected
4.35B
Beat
+0.91%
Earning Report
| Metric | Q1 FY27 | Q1 FY26 | YoY Change % |
|---|---|---|---|
| Net sales | $4.39B | $4.52B | -3.0 |
| └─North America Retail | $2.45B | $2.63B | -7.0 |
| └─International | $794.30M | $760.20M | +4.0 |
| └─North America Pet | $612.80M | $610.00M | 0.0 |
| └─North America Foodservice | $523.10M | $516.70M | +1.0 |
| Earnings per share – basic | $0.74 | $2.22 | -67.0 |
| Earnings per share – diluted | $0.74 | $2.22 | -67.0 |
| Adjusted diluted earnings per share | $0.75 | $0.86 | -13.0 |
| Net earnings | $397.00M | $1.20B | -67.0 |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY27 Outlook |
|---|---|---|
| Organic net sales | — | -1.5% to +0.5% |
| Adjusted operating profit | — | -13% to -8% (constant currency) |
| Adjusted diluted earnings | — | $3.00-$3.20/share |
| Free cash flow conversion | — | ~95% of adjusted after-tax earnings |
| Cost savings | — | ≥$750M |
| Operating profit headwind | — | ~9 pts |
| EPS headwind | — | ~11 pts |
| Reported net sales growth impact | — | ~ -4% |
| Restructuring and transformation charges | — | ~$80M-$85M |
Business Highlights
- ➤Completed the Brazil business sale to 3corações after quarter-end.
- ➤U.S. yogurt business divestiture remained the only significant year-over-year comparability transaction.
- ➤Advanced brand renovation and innovation around protein, fiber, bold flavors, fun, and indulgence.
- ➤Focused the Remarkable Experience Framework on product, packaging, communication, omnichannel execution, and consumer value.
- ➤North America Retail strengthened dollar-share trends across most priority categories.
- ➤North America Foodservice held or gained market share across 100% of priority businesses.
- ➤North America Pet aligned the Whitebridge Pet Brands calendar to the August fiscal quarter-end.
- ➤Continued the Holistic Margin Management program and global Transformation initiative.
- ➤Paid $330.5M in dividends during the quarter.
- ➤Did not repurchase shares during the quarter.
Management Commentary
Jeff Harmening, Chairman and Chief Executive Officer
“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. 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. Based on our progress and the actions underway, we remain confident in our ability to deliver our fiscal 2027 guidance.”