General Mills Stock Earnings Reports

General Mills reaffirmed fiscal 2026 guidance while emphasizing a clear strategy to return to profitable organic growth. Management said recent targeted price investments (to get below key price cliffs) plus stepped-up innovation/renovation are beginning to drive pound-share gains in 8 of the top 10 categories and improved household penetration in bars, fruit snacks, salty snacks and cereal. They noted the Yoplait U.S. divestiture and the Whitebridge acquisition (fresh pet) are being executed well; fresh pet production and cooler rollouts are underway (1,000 coolers by month-end, 5,000 by end of Q2, broader ramp in calendar 2026). New-product activity is accelerating (new product volume up ~25% in NAR; new product sales contribution moving from ~3.5% to ~5%). Q1 profit was pressured by higher investment, the yogurt divestiture, and phasing effects, but gross margin was slightly better than expected due to lighter-than-expected inflation phasing and an international trade timing benefit; management expects those timing benefits to unwind in Q2 and for profit to strengthen in the back half of the year. Pet had shipment-timing headwinds in Q1; CORE Blue brands held pound share while Wilderness and specialty channels need work. Management highlighted supply-chain / demand-planning improvements from technology (AI-enabled forecasting) that improve efficiency and free marketers to focus on demand generation. They reiterated confidence in their approach but cautioned Q2 will see pressure before improvement in Q3–Q4.