General Mills Q1 sales, profit beat estimates; reaffirms 2027 outlook

General Mills

23/09/2026 12:11

Overview
U.S. packaged foods maker's fiscal Q1 sales declined 3%, but beat analyst expectations
Adjusted EPS for fiscal Q1 beat analyst expectations, despite falling 13% in constant currency
Company reaffirmed full-year fiscal 2027 outlook

Outlook
General Mills reaffirms fiscal 2027 organic net sales outlook of down 1.5% to up 0.5%
Company expects fiscal 2027 adjusted operating profit down 13% to down 8% in constant currency
General Mills sees fiscal 2027 adjusted diluted EPS between $3.00 and $3.20

Result Drivers
DIVESTITURE IMPACT - Co said U.S. yogurt divestiture drove reported net sales decline
HIGHER INPUT COSTS - Co attributed declines in adjusted operating profit and segment profits to higher input costs
LOWER VOLUME - Co said lower volume contributed to profit declines in North America Retail and Pet segments

Company press release: ID:nBwbGd9Kja

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
$4.39 bln
$4.33 bln (14 Analysts)
Q1 Adjusted EPS
Beat
$0.75
$0.72 (15 Analysts)
Q1 EPS
 
$0.74
 
Q1 Gross Margin
 
33.90%
 
Q1 Adjusted Gross Margin
 
33.30%
 
Q1 Operating profit
 
$633.60 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)