What is the revenue and EPS growth rate for General Mills year over year?

What were the key takeaways from General Mills's earnings call?

What is the market's earnings forecast for General Mills next quarter?

What were the key takeaways from General Mills’s earnings call?

What guidance did General Mills's management provide for the next earnings period?

Did General Mills beat or miss consensus estimates last quarter?

What is General Mills's latest dividend and current dividend yield?

What factors drove the changes in General Mills's revenue and profit?

- **North America Retail recovery**: 8/10 categories growing pound share, 90%+ success rate on pricing adjustments. 
- **Love Made Fresh success**: 5% market share in 8 weeks, 4.8/5 consumer ratings, 4,658 cooler placements. 
- **Q4 profit growth**: $100M tailwind from trade timing and 53rd week. 
- **Challenges**: Dog feeding category lag, Q3 margin pressure from Love Made Fresh inventory, government shutdown impact. 
- **Cost management**: 5%+ HMM savings this year, >4%+ visibility for '27. 


**【CEO Summary Section】**
- **Organic sales growth focus**: Emphasized improving North America Retail volumes through pricing adjustments (90%+ success rate) and new product innovation (+25% YoY). 
- **North America Retail momentum**: 8 of 10 categories growing pound share, with 5% market share for Love Made Fresh pet food. 
- **Pet business progress**: Core Blue Buffalo business gaining share, Love Made Fresh on track to reach 5,000 cooler placements by end of January. 
- **Second half outlook**: Top-line improvement expected, with Q4 profit growth driven by trade timing and 53rd week benefits. 

**【CFO Financial Commentary】**
- **Q2 results**: GAAP net income $420M, Non-GAAP EPS $1.08 (vs. $0.98 consensus). 
- **One-time benefits**: $0.08 EPS boost from supply chain, international performance, and shipment timing (expected to reverse in Q3). 
- **Full-year guidance**: Maintained unchanged, with 5%+ HMM savings and $100M Q4 tailwind from trade phasing. 
- **Tariffs and inflation**: 1-2% headwind from tariffs, 3% base inflation, with wheat price declines impacting '27 COGS. 

**【Q&A Key Highlights】**
- **North America Retail sustainability**: 90%+ pricing success rate, but 3% price mix decline vs. prior year. Q2 volume growth partly due to shipment timing (to unwind in H2). 
- **Pet category dynamics**: Dog feeding lagging due to unmeasured channel shift, smaller dogs, and discretionary spending pullback. Cat and treat segments growing. 
- **Cost of volume**: Higher inventory levels for Love Made Fresh trial driving Q3 margin pressure, but 4.8/5 consumer ratings validate strategy. 
- **Tariff management**: 6-9 months lead time on input costs, limiting '26 impact but creating '27 visibility. 
- **Wilderness challenges**: New product launches and ad campaigns planned, but execution delays persist. 
- **HMM and transformation**: 5%+ savings this year, >4%+ visibility for '27, with multi-year savings pipeline. 


General Mills, Inc. (GIS) Q2 2026 Earnings Call Transcript

- **Strategic Momentum**: 8/10 categories gain share, new products drive 25% volume growth, and FY26 guidance reaffirmed. 
- **Profit Outlook**: Q1 beat due to $20M trade benefit, Q2 25%+ profit decline, but back-half recovery expected. 
- **Innovation Surge**: 5% of sales from new products (vs. 3.5%), with Cheerios Protein and pet treats leading. 
- **Pet Growth**: Fresh pet food launch on track, BLUE business steady, but Wilderness needs innovation. 
- **GLP-1 Trend**: Consumer shift to protein/fiber creates opportunities despite category headwinds.

**【CEO Summary Section】**
- Emphasized strategy of returning to profitable organic growth through price adjustments, innovation, and cost savings. 
- Q1 results: Pound share gains in 8 of 10 key categories, new product volumes up 25%, and reaffirmed FY26 guidance despite Q1 profit pressure. 
- Back-half improvement expected due to reduced trade expenses and innovation ramp-up. 

**【CFO Financial Commentary】**
- Q1 operating profit and EPS beat expectations due to lighter inflation (2% vs. 3% annual rate) and $20M trade expense timing benefit. 
- Q2 outlook: Higher inflation (~3%+), unwind of benefits, and 25%+ operating profit decline, but back-half improvement expected. 

**【Q&A Highlights】**
- **Volume Trends**: Volumes stable vs. historical 50bps gap, driven by consumer inflation recovery. 8/10 categories gained share, but flower/desserts lagged. 
- **Pet Business**: BLUE business steady, Treats improving, but Wilderness needs protein innovation. Fresh pet food launch on track with 1,000+ coolers installed. 
- **Innovation**: 5% of sales from new products (vs. 3.5% prior), Cheerios Protein, Mott's bars leading. 
- **GLP-1 Impact**: Reduced calories may pressure categories, but protein/fiber trends (e.g., Cheerios Protein) offer opportunities. 
- **Financial Phasing**: Q2 trade expenses to normalize in Q3/Q4, supporting back-half margin recovery.

General Mills, Inc. (GIS) Q1 2026 Earnings Call Transcript

- **NAR Volume Growth**: 80% of NAR business gaining pound share YTD, driven by value investments and new product innovation.
- **Pet Food Expansion**: $100M+ annual investment in fresh pet food launch; expects multi-year payback period.
- **Profitability Confidence**: 5% YoY operating expense decline; Non-GAAP EPS beats expectations despite $20M+ incremental HMM savings.
- **Key Risks**: Tariffs (~2% EBITDA impact), Yoplait divestiture costs, and economic uncertainty in snacks category.
- **Innovation Focus**: 25%+ new product contribution in NAR, including protein-enhanced cereals and spicy snack innovations.

**【CEO Opening Remarks】**
- Emphasized return to volume growth in North America Retail (NAR), driven by value investments in Pillsbury, Totino's, soup, cereal, and fruit snacks.
- Highlighted strong new product innovation, including fresh pet food launch and protein-focused products like Cheerios Protein.
- Confident in holistic margin management and productivity initiatives to offset short-term investment costs.

**【CFO Financial Highlights】**
- GAAP net income of $420 million; Non-GAAP EPS exceeded expectations at $1.08.
- Operating expenses declined 5% YoY due to strong cost control.
- FY26 outlook includes $100M+ incremental savings from HMM, offset by increased media spend for fresh pet food launch.

**【Q&A Key Takeaways】**
- **Pet Food Fresh Launch**: National expansion of Love Made Fresh with 50+ SKUs; expects multi-year investment but confident in long-term profitability.
- **Pricing Strategy**: Targeted price adjustments in specific categories (e.g., wet pet food) to align with competitive zones, while maintaining premium positioning.
- **Category Growth**: NAR volume share up 80% YTD, but dollar sales lag due to pricing headwinds; expects dollar share recovery in H2 with new product launches.
- **Risks**: Tariffs (~2% EBITDA impact), Yoplait divestiture stranded costs, and economic uncertainty affecting consumer discretionary spending.

**【Product Innovation】**
- 25%+ new product contribution in NAR, including spicy innovations in salty snacks and protein-enhanced cereals.
- Fresh pet food segment projected to grow from $3B to $10B in 10 years; Blue Buffalo aims to capture leadership position.


General Mills, Inc. (GIS) Q4 2025 Q&A Earnings Call Transcript

- **Consumer Value-Driven Growth**: Aligning prices with value expectations drove Q4 investments in snacks, cereals, and pet food, with early success in Blue Buffalo and Pillsbury.
- **$100M+ Reinvestment Plan**: HMM savings and 53rd week proceeds to fuel marketing (double-digit growth) and innovation, with fewer but bigger product launches.
- **Cereal Recovery Expected**: Q4 media spend and promotions set to reverse category underperformance, supported by protein-focused innovations like Cheerios Protein.
- **Tariff Headwind**: 5% profit impact from tariffs offset by cost savings and reinvestment flexibility.


**【CEO Summary Section】**
- **Consumer Value Focus**: Emphasized aligning price points with consumer value expectations, particularly in snacks, cereals, and pet food. Success seen in Blue Buffalo, Pillsbury, and Totino's through pricing adjustments and improved marketing.
- **2026 Investment Plan**: Reinvesting HMM savings and 53rd week proceeds into growth, including increased marketing (double-digit growth in Q4) and new product innovation. Focus on fewer, bigger innovations with better support.
- **Category Recovery**: Cereal business expected to improve in Q4 with media investment and promotions. Soup and Nature Valley protein products showing early success.

**【CFO Financial Commentary】**
- **Cost Efficiency**: $100M+ incremental cost savings from HMM and operational improvements, to be reinvested in growth. Tariffs remain a 5% profit headwind.
- **Financial Flexibility**: Maintaining strong balance sheet to support reinvestment while managing headwinds like stock-based comp dilution.

**【Q&A Key Themes】**
- **Snack Market Dynamics**: Weakness driven by consumer value-seeking, not health trends. Fruit snacks require price alignment and innovation (e.g., Harry Potter-themed products). Salty snacks focus on bold flavors.
- **Pet Food Inventory**: One-time drag from retailer destocking, with stable inventory levels moving forward.
- **Innovation Strategy**: Balancing core brand marketing with high-impact new products, prioritizing protein and functional benefits.


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