GENERAL MILLS INC. has recently released its 10-Q report, providing a detailed look at the company's financial performance. General Mills, Inc. manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers a wide range of products, including cereals, yogurt, soup, baking mixes, frozen foods, pet food, and more. The company was founded in 1866 and is headquartered in Minneapolis, Minnesota.
The 10-Q report includes Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations. The report outlines the company's key priorities for fiscal 2026, which include returning North America Retail to volume growth, accelerating North America Pet growth with an expanded portfolio, and driving efficiencies to reinvest in growth. The report also discusses the company's expectations for category growth, strategic investments, input cost inflation, and the impact of divestitures on adjusted operating profit growth.
In the first quarter of fiscal 2026, General Mills reported a 7% decrease in net sales, including the net impact of divestitures and acquisitions. Organic net sales decreased by 3% compared to the same period last year. Operating profit increased by 108% to $1,726 million, primarily driven by a divestiture gain related to the sale of the United States yogurt business and favorable net price realization and mix. Adjusted operating profit decreased by 18% on a constant-currency basis, including the net impact of the divestitures and acquisition.
The report also provides a detailed breakdown of the company's consolidated results of operations, including net sales, operating profit, net earnings, and diluted earnings per share. It discusses the factors contributing to the changes in net sales, such as volume growth, net price realization and mix, and the impact of divestitures and acquisitions.
Additionally, the report delves into the segment operating results, highlighting the performance of each operating segment, including North America Retail, International, and North America Pet. It provides insights into the net sales, contributions from volume growth, net price realization and mix, and the impact of foreign currency exchange on each segment's performance.
As a result of these announcements, the company's shares have moved -0.77% on the market, and are now trading at a price of $49.18. For the full picture, make sure to review GENERAL MILLS INC's 10-Q report.
