General Mills Reaffirms FY26 Guidance and Growth Objectives

General Mills reaffirms its FY26 guidance and three priorities at the Barclay's Consumer Staples Conference. The company started the year positively, with in-market growth and new product launches. It maintained its full-year guidance and reaffirmed its objectives for 2026.

General Mills (NYSE: GIS) reaffirmed its full-year guidance and outlined three key priorities for fiscal year 2026 at the Barclay’s Consumer Staples Conference in Boston this week. The company reported that it started the year positively, with in-market results aligning with expectations and improved competitiveness in its top brands. CEO Jeff Harmening stated, “We’re off to a good start this year, with in-market results in line with our expectations and improved competitiveness on our biggest brands, including holding or growing pound share in eight of our top 10 U.S. categories” [1].

Looking ahead, General Mills has set three priorities for FY26: returning North American retail to volume growth, accelerating momentum in its North American pet business, and driving efficiencies to reinvest in growth. The company expects organic net sales to be down 1% to up 1% for FY26, with inorganic items such as divestitures, foreign exchange rates, and an extra week in FY26 expected to reduce full-year net sales growth by ~4% [1]. Adjusted net profit and adjusted earnings are both expected to be down 10% to 15%, including headwinds of ~5% from the net impact of divestitures and acquisitions, and 3% from reset corporate incentives. Free cash flow conversion is expected to be at least 85% of adjusted after-tax earnings [1].

General Mills will report its fiscal first quarter results before the market open on September 17, with an expected adjusted profit of $0.82 per share on $4.52B in revenue [1].

References:
[1] https://seekingalpha.com/news/4491049-general-mills-reaffirms-guidance-growth-objectives-for-fy26