Core Insights - General Mills is facing significant challenges in the current consumer environment, with consumer sentiment at a low point, comparable to the period immediately following the pandemic in 2020 [5][6]. Company Overview - The company is heavily reliant on the U.S. market, with 85% of its business operations based there [6]. - Consumer financial stress is evident, as U.S. consumer debt has increased, indicating that while consumers are still making purchases, they are financially stretched [6]. Industry Context - The overall consumer sentiment in the U.S. is reported to be the second lowest in history, as per the University of Michigan's polling data [6].

Summary of General Mills (GIS) 2025 Conference Call Company Overview - **Company**: General Mills (GIS) - **Date**: June 05, 2025 - **Key Speaker**: Jeff Harmening, Chairman and CEO Industry Insights Consumer Sentiment - **US Consumer Sentiment**: Currently at its second lowest level ever recorded by the University of Michigan, only higher than the pandemic's onset in 2020 [6][7] - **Financial Stress**: US consumers are financially stressed but still purchasing, with a notable increase in consumer debt [7] - **Eating Habits**: 87% of eating occasions in the US occur at home, benefiting General Mills' product categories [8] - **Consumer Preferences**: Increased demand for protein, bold flavors, and nostalgic products during tough economic times [9][10][12] Regional Performance - **Europe**: Consumer sentiment is less stressed than in the US, with growth in categories like ice cream and Nature Valley [13][14] - **China**: Similar stress levels as the US, with a decline in traffic at Haagen Dazs shops but growth in retail [15][16] - **Brazil**: Experiencing growth, indicating a healthier economic environment [15] Strategic Initiatives Accelerate Strategy - **Portfolio Reshaping**: 30% reshaping over the last seven years through acquisitions and divestitures, including a recent divestiture of yogurt in the US [22][23] - **Investment in Technology**: Focus on data and technology to enhance strategic revenue management and supply chain digitization, improving productivity savings from 4% to 5% [24] Marketing and Innovation - **Investment Focus**: Emphasis on organic growth, with significant investments in marketing and new product innovation for fiscal 2026 [27][35] - **Remarkable Experience Framework**: A disciplined approach to evaluate product performance against competitors, focusing on value, packaging, and communication [63][64] Financial Performance Sales and Volume Trends - **Pound Volume Improvement**: 65% of categories improved in the fourth quarter, with a decrease in pounds down to 1% from 3% earlier in the year [33][40] - **Dollar Sales Lag**: Dollar sales down 4%, expected to lag behind volume improvements due to pricing adjustments [34][42] Pet Food Segment - **Growth in Pet Food**: Successful acquisitions like Blue Buffalo and Tiki Cat, with a focus on the humanization trend in pet food [45][50] - **Advertising Improvements**: Enhanced advertising strategies leading to growth in specific pet food categories [47][48] Food Service Business - **Growth and Profitability**: Food service business growing at 3% top line and 15% profitability, with strong margins due to competitive R&D capabilities [53][56] - **Noncommercial Channels**: 60% of food service business in noncommercial channels, which are growing despite challenges in the restaurant sector [57] Challenges and Regulatory Environment Tariffs and Inflation - **Tariff Impact**: Limited exposure due to 97% of products made in the US, with some raw materials sourced internationally [95][96] - **Inflation Management**: Tariffs viewed as an addition to short-term inflation, manageable through productivity [98] Food Regulation - **Engagement with Government**: Active dialogue with federal authorities on food regulation, particularly regarding artificial colors [100][102] - **Competitive Advantage**: Strong R&D capabilities position General Mills favorably in adapting to regulatory changes [102] Future Outlook Key Building Blocks for Fiscal 2026 - **Focus on Organic Growth**: Priority on returning to organic growth through investments in value, marketing, and innovation [105][106] - **Productivity Goals**: Expected 5% productivity savings and additional savings from restructuring initiatives [108][89] - **Divestiture Impact**: Anticipated effects of the Yoplait divestiture on earnings and overall strategy [110] Conclusion - **Encouraging Trends**: Positive indicators in pound volume and household penetration, with confidence in the effectiveness of investments made [112]

Core Insights - VIAVI Solutions Inc. and 3-GIS have formed a partnership to enhance fiber fault location capabilities for businesses, leveraging existing Geographic Information System (GIS) investments [1][6] - The integrated solution has been successfully deployed at Windstream Wholesale, automating manual processes and improving network maintenance, reducing downtime, and increasing revenue [1][3][4] Industry Trends - There is a rising demand for fiber deployment across various sectors, including transport networks, data centers, and home broadband, driven by the need to support advanced technologies like AI/ML and high-performance computing [2] - Efficient fault identification and resolution are critical for network operators to maintain financial performance, as even minor degradations can significantly impact user experience [2] Company Solutions - The partnership integrates VIAVI's ONMSi Remote Fiber Test System (RFTS) with 3-GIS's geospatial capabilities, enabling faster identification and resolution of network issues [3][5] - The solution allows for rapid deployment on existing fiber, providing instant detection of impairments and reducing repair times by ensuring the right technician and equipment are dispatched [4][5] Customer Benefits - The collaboration enables service providers to maximize their GIS investments while enhancing fault location speed and accuracy, ultimately improving network operations and customer satisfaction [6] - Windstream Wholesale has reported significant operational cost reductions and service downtime improvements due to the automation of fiber fault detection and response [6]

Core Viewpoint - The article discusses potential investment opportunities in companies that are likely to perform well amid the uncertainty created by recent U.S. tariffs, particularly focusing on companies with limited international exposure and those providing consumer staples. Group 1: T-Mobile - T-Mobile is a major U.S. wireless carrier that has been gaining market share and is insulated from tariff impacts due to its focused business model [4][5] - The company reported free cash flow of $17 billion in 2024, up from $13.6 billion in 2023, with management forecasting $17.3 billion to $18 billion for the current year [5] - T-Mobile's strategy includes returning capital to shareholders through share repurchases and a modest dividend growth plan, providing it with flexibility compared to competitors like AT&T and Verizon [7][8] Group 2: CarMax - CarMax, the largest used-vehicle dealer in the U.S., is expected to benefit from increased demand for used cars due to a 25% tariff on auto imports, which could raise new car prices by $3,500 to $16,000 [9][10] - The company maintains a gross profit of around $2,300 per vehicle, allowing it to grow earnings if demand shifts to used vehicles [11] - CarMax's stock is currently priced at less than 20 times forward earnings, presenting a potential bargain if tariffs drive higher unit sales [13] Group 3: General Mills - General Mills is positioned to benefit from price increases on grocery items due to tariffs, as it has strong brands that are less affected by inflationary pressures [14][15] - The company has maintained a gross margin of around 35%, significantly higher than competitors, and is focused on cost savings and new product investments [16][17] - Despite a projected 2% drop in earnings per share for fiscal 2026, General Mills is seen as a stable investment option, trading at less than 15 times expected earnings [17]

Financial Data and Key Metrics Changes - The company is focusing on accelerating organic growth with a target of at least 5% HMM savings and an additional $100 million in cost savings planned for fiscal 2026 [5][16] - Consumer confidence indices indicate that consumer confidence is currently below levels seen three months ago and is comparable to 2008 [8][9] - The company expects to improve competitiveness starting in the fourth quarter with actions taken [17] Business Line Data and Key Metrics Changes - The company is stepping up investment in pricing and marketing, particularly in the fruit snacks area, where consumers are seeking value [13][14] - New product innovations are being emphasized, with a focus on fewer but bigger innovations planned for the first half of next year [32][33] - The fruit snacks category is currently down, and the company is working on improving its market share through better pricing and marketing strategies [60][61] Market Data and Key Metrics Changes - The snacks business is experiencing a negative gap in performance compared to previous years, attributed to decreased consumer confidence and increased value-seeking behavior [49][55] - The company notes that food-at-home consumption has increased to 87% of occasions, which is higher than pre-pandemic levels [52] - The pet food segment is facing a 5-point drag from retail inventory, particularly in dry pet food [98][99] Company Strategy and Development Direction - The company aims to reinvest savings from HMM and the 53rd week to drive growth and improve competitiveness [16][82] - There is a commitment to enhancing marketing efforts and new product innovation to align with consumer preferences [85][86] - The strategy includes a holistic approach to value, focusing on marketing, innovation, and pricing [84] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the consumer environment has not improved as expected, with consumers increasingly seeking value [7][8] - The company is optimistic about returning to growth, particularly in the cereal and soup categories, due to increased marketing and improved product offerings [93][94] - Management emphasizes the importance of understanding consumer needs and adapting to changing market conditions [45][72] Other Important Information - The company is experiencing challenges in the cereal category, with a mid-single-digit decline in U.S. retail sales [89] - There is a focus on improving the marketing and innovation of core products to regain market share [80][81] Q&A Session Summary Question: What is the incremental investment needed for fiscal 2026? - Management indicated that the consumer environment has not improved as expected, and they are focusing on value and marketing to drive growth [7][8] Question: What are the tailwinds and headwinds for next year? - Management identified tailwinds such as better marketing and innovation, while headwinds include increased trade and competitive pressures [19][20] Question: How is the company addressing innovation in the food space? - Management noted that new product innovation is increasing but still lags behind pre-pandemic levels, with plans to support successful innovations more robustly [30][31] Question: What is the strategy for the snacks business? - The company is focusing on value adjustments and marketing improvements to enhance the performance of its snacks portfolio [60][61] Question: How does the company assess consumer willingness to pay for healthier ingredients? - Management believes that consumers are still willing to pay for quality, but value perception is critical in the current environment [70][71]

Financial Performance - In Q3 fiscal 2025, net sales decreased by 5% to $4,842.2 million, with organic net sales also down by 5% compared to the same period last year[92][96][93]. - Operating profit decreased by 2% to $891 million, with an operating profit margin of 18.4%, which is an increase of 50 basis points[92][93]. - Diluted earnings per share fell by 4% to $1.12, while adjusted diluted earnings per share decreased by 15% on a constant-currency basis to $1.00[92][93]. - For the nine-month period ended February 23, 2025, net sales were $14,930.4 million, a decrease of 1% compared to the same period last year[110][111]. - Operating profit for the nine-month period increased by 6% to $2,800.8 million, with an operating profit margin of 18.8%, up 130 basis points[109][110]. - Segment operating profit decreased 20 percent to $102 million in Q3 fiscal 2025, compared to $128 million in Q3 fiscal 2024, primarily due to higher SG&A expenses and input costs[149]. - Adjusted operating profit for the quarter ended February 23, 2025, was $800.8 million, representing a margin of 16.5%[194]. - For the nine-month period ended February 23, 2025, adjusted operating profit was $2,730.1 million, with a margin of 18.3%[194]. Sales and Revenue Breakdown - North America Retail net sales decreased 7% to $3,009.1 million in the third quarter of fiscal 2025 compared to $3,242.1 million in the same period last year[125]. - International net sales decreased 4% to $651.3 million in the third quarter of fiscal 2025 compared to $680.1 million in the same period last year[135]. - North America Pet net sales were flat at $623.7 million in the third quarter of fiscal 2025 compared to $624.5 million in the same period last year[143]. - North America Foodservice net sales increased 1 percent to $555.3 million in Q3 fiscal 2025, driven by favorable net price realization, partially offset by a decrease in volume growth contributions[151]. - North America Foodservice net sales increased 3 percent to $1,721.5 million in the nine-month period ended February 23, 2025, compared to $1,669.7 million in the same period in fiscal 2024, driven by volume growth and favorable net price realization[153]. Expenses and Costs - SG&A expenses increased by $91 million to $2,552 million in the nine-month period, with SG&A as a percentage of net sales rising by 90 basis points[116]. - Cost of sales decreased by $228 million to $9,671 million in the nine-month period, primarily due to lower volume and product rate and mix[115]. - The company recorded $56 million in unallocated corporate expenses in Q3 fiscal 2025, down from $64 million in the same period in fiscal 2024, reflecting a decrease in certain compensation and benefit-related expenses[160]. Tax and Earnings - The effective tax rate for Q3 fiscal 2025 was 19.8%, up from 18.5% in the same period last year[104][105]. - After-tax earnings from joint ventures decreased to $14 million in Q3 fiscal 2025, down from $18 million in the same period last year[106]. - After-tax earnings from joint ventures decreased to $64 million in the nine-month period ended February 23, 2025, down from $66 million in the same period last year[121]. - The effective tax rate increased to 20.5% in the nine-month period ended February 23, 2025, compared to 19.5% in the same period last year[120]. - Adjusted effective income tax rate for the quarter ended February 23, 2025, was reported at 21.0%[212]. Divestitures and Gains - A divestiture gain of $96 million was recorded in Q3 fiscal 2025 related to the sale of the Canada yogurt business[101]. - Divestiture gain of $96 million related to the sale of the Canada yogurt business in the nine-month period ended February 23, 2025[117]. - The company reported a divestiture gain related to the sale of its Canada yogurt business in fiscal 2025[182]. Cash Flow and Investments - Cash provided by operations was $2,307 million in the nine-month period ended February 23, 2025, compared to $2,439 million in the same period last year, reflecting a $132 million decrease[162]. - Cash used by investing activities was $1,579 million in the nine-month period ended February 23, 2025, compared to $508 million in the same period in fiscal 2024, including the acquisition of Whitebridge Pet Brands for $1,410 million[163]. - Cash used by financing activities was $610 million in the nine-month period ended February 23, 2025, compared to $1,928 million in the same period in fiscal 2024, with $902 million spent on common stock purchases[164]. Debt and Financial Position - The company had $1,941 million of long-term debt maturing in the next 12 months, including $800 million of fixed-rate notes due April 17, 2025[168]. - As of February 23, 2025, the company had $404 million of cash and cash equivalents in foreign jurisdictions, with plans to repatriate funds without incurring further U.S. income tax liability[165]. Regulatory Changes - The FASB issued ASU 2023-09 requiring enhanced income tax disclosures effective for fiscal 2026, with early adoption permitted[176]. - ASU 2023-07 mandates enhanced segment disclosures effective for fiscal 2025 and fiscal 2026, with retrospective application required[177]. Segment Performance - International segment operating profit decreased 39% to $63 million in the nine-month period ended February 23, 2025, compared to $103 million in the same period last year[142]. - North America Retail organic net sales decreased 2% in the nine-month period ended February 23, 2025, compared to the same period in fiscal 2024[130]. - North America Retail segment's operating profit declined by 14% for the quarter ended February 23, 2025, with no impact from foreign currency exchange[210]. - North America Pet segment's operating profit dropped by 20% for the quarter ended February 23, 2025, with no foreign currency impact[210]. - North America Foodservice segment's operating profit increased by 1% for the quarter ended February 23, 2025, with no foreign currency impact[210]. - The North America Pet segment showed a 6% increase in operating profit for the nine-month period ended February 23, 2025[210].

Financial Data and Key Metrics Changes - The company is focusing on accelerating organic growth with a target of at least 5% HMM savings and an additional $100 million in cost savings for fiscal 2026 [5][6] - Consumer confidence indices indicate that consumer confidence is currently below levels seen three months ago and is comparable to 2008 [8][9] - The company expects to reinvest savings and efficiencies to return to growth, with a focus on improving competitiveness starting in the fourth quarter [16][17] Business Line Data and Key Metrics Changes - The company is stepping up investments in pricing and marketing, particularly in the fruit snacks category, where consumers are seeking value [13][14] - New product innovations are being emphasized, with successful launches like Cheerios Protein and Nature Valley Granola Protein [31][32] - The company is experiencing challenges in the fruit snacks category due to increased competition and the introduction of private labels by major retailers [60][61] Market Data and Key Metrics Changes - The snacks category is facing a negative gap compared to previous performance, attributed to decreased consumer confidence and increased value-seeking behavior [49][50] - The company notes that food-at-home consumption has increased from 83% to 87% of occasions, indicating a shift in consumer behavior towards staples over discretionary items [52][55] Company Strategy and Development Direction - The company plans to focus on fewer but larger innovations in the upcoming fiscal year, aiming to support successful new products more robustly [32][33] - There is a commitment to improving marketing effectiveness across core brands and new product innovations [85][86] - The company is also addressing the need for better pricing strategies to align with consumer expectations and market conditions [41][42] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the consumer environment has not improved as expected, with consumers increasingly seeking value [7][8] - The company is optimistic about returning to growth, particularly in the cereal and soup categories, due to increased marketing and improved product offerings [93][94] - Management emphasizes the importance of understanding brand-specific needs and being agile in response to changing market conditions [45][46] Other Important Information - The company is facing a significant headwind from Yoplait, which is expected to impact profits by about 5 points [23][24] - There is a focus on building flexibility for additional investments in the upcoming fiscal year to drive growth [25][82] Q&A Session Summary Question: What is the incremental investment needed for fiscal 2026? - Management indicated that the consumer environment has not improved as anticipated, leading to a focus on value and effective marketing strategies [7][8] Question: Can you outline the tailwinds and headwinds for next year? - Management acknowledged both tailwinds such as improved marketing and innovation, and headwinds including increased trade and competitive pressures [19][20] Question: How does the company plan to address innovation in the food space? - Management noted that while innovation in the packaged food category has not fully recovered to pre-COVID levels, the company is ramping up its innovation efforts [27][28] Question: What is the outlook for the cereal category? - Management expressed confidence in improving cereal performance in the fourth quarter due to increased media support and effective promotions [93][94] Question: What drove the unexpected retailer inventory headwinds? - Management explained that the inventory issues were primarily seen in the pet category and were influenced by the volatility of retailer inventory levels [98][99]

Core Viewpoint - General Mills reported quarterly earnings of $1 per share, exceeding the Zacks Consensus Estimate of $0.95 per share, but down from $1.17 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was 5.26%, with the company previously expected to post earnings of $1.22 per share but actually reporting $1.40, resulting in a surprise of 14.75% [2] - Revenues for the quarter were $4.84 billion, missing the Zacks Consensus Estimate by 2.28%, and down from $5.1 billion year-over-year [3] - Over the last four quarters, General Mills has surpassed consensus EPS estimates four times and topped revenue estimates twice [2][3] Stock Performance and Outlook - General Mills shares have declined approximately 5.2% since the beginning of the year, compared to a decline of 4.5% for the S&P 500 [4] - The current consensus EPS estimate for the upcoming quarter is $0.93 on revenues of $4.75 billion, and for the current fiscal year, it is $4.36 on revenues of $19.79 billion [8] Industry Context - The Zacks Industry Rank for Food - Miscellaneous, which includes General Mills, is currently in the bottom 46% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [9]

Financial Performance - Third-quarter net sales decreased by 5% to $4.8 billion, with organic net sales also down 5%, primarily due to retailer inventory reductions and unfavorable foreign currency exchange[5] - Operating profit for the third quarter was $891 million, down 2%, while adjusted operating profit decreased by 13% in constant currency to $801 million[6] - Diluted earnings per share (EPS) fell by 4% to $1.12, with adjusted diluted EPS down 15% in constant currency to $1.00[6] - The company expects organic net sales to decline by 2% to 1.5%, a revision from the previous expectation of flat to up 1%[30] - Adjusted operating profit and adjusted diluted EPS are projected to decrease by 8% to 7% in constant currency, compared to earlier estimates of a 4% to 2% decline[30] - Net earnings for the nine-month period ended February 23, 2025, were $2,016.9 million, compared to $1,958.9 million for the same period in the previous year, reflecting an increase of 2.97%[40] - Net earnings attributable to General Mills for the nine-month period ended February 23, 2025, were $2,001.2 million, compared to $1,939.1 million in the same period last year, representing an increase of about 3.2%[5] - Reported diluted earnings per share (EPS) for the quarter ended February 23, 2025, was $1.12, a decrease of 4% compared to $1.17 for the same quarter last year[68] - Adjusted diluted EPS for the same quarter was $1.00, reflecting a 15% decline from $1.17 year-over-year[68] Segment Performance - The North America Retail segment reported a 7% decline in net sales to $3.0 billion, with organic net sales down 6%[13] - The North America Pet segment's net sales were flat at $624 million, with organic net sales down 5%[15] - The North America Foodservice segment saw a 1% increase in net sales to $555 million, with organic net sales also up 1%[17] - International segment net sales decreased by 4% to $651 million, impacted by unfavorable foreign currency exchange[19] - North America Retail segment net sales fell by 7% to $3,009.1 million, while operating profit decreased by 14% to $648.1 million[36] - The International segment's net sales decreased by 4% to $651.3 million, with operating profit down 1% to $18.0 million[36] - The North America Pet segment reported flat net sales at $623.7 million, but operating profit decreased by 20% to $102.2 million[36] Cost Management and Savings Initiatives - Gross margin improved by 40 basis points to 33.9% of net sales, driven by Holistic Margin Management (HMM) cost savings, despite input cost inflation[9] - The Holistic Margin Management program is anticipated to deliver at least 5% savings in cost of goods sold for fiscal 2026, equating to approximately $600 million in gross productivity savings[27] - The company is reviewing cost-saving initiatives targeting at least $100 million in savings for fiscal 2026[27] - Unallocated corporate expenses totaled $56 million in Q3 FY2025, down from $64 million in Q3 FY2024, reflecting a decrease of approximately 12.5%[4] Cash Flow and Assets - Cash provided by operating activities totaled $2.3 billion through nine months, compared to $2.4 billion a year ago[25] - Cash flows from operating activities for the nine-month period were $2,306.6 million, down from $2,438.9 million in the prior year[40] - Cash and cash equivalents at the end of the period were $521.3 million, a decrease from $588.6 million at the end of the previous year[40] - Total assets increased to $32,706.2 million as of February 23, 2025, up from $30,860.5 million a year earlier, representing a growth of 5.97%[38] - Total current liabilities increased to $7,876.2 million from $7,061.9 million, marking a rise of 11.52%[38] - Long-term debt stood at $11,839.6 million, an increase from $11,015.1 million, indicating a rise of 7.48%[38] - Stockholders' equity decreased to $9,512.6 million from $9,691.3 million, reflecting a decline of 1.85%[38] Acquisitions and Divestitures - The company completed the sale of its Canada yogurt business for a pre-tax gain of $96 million and expects to close the sale of its U.S. yogurt business for approximately $2 billion in 2025[42] - The acquisition of NX Pet Holding, Inc. was completed for $1 billion, with recorded goodwill of $1,087 million and an indefinite-lived intangible asset of $289 million[45] - Transaction costs related to the sale of North American yogurt businesses and the Whitebridge Pet Brands acquisition totaled $33 million for the nine-month period ended February 23, 2025, compared to $1 million in the same period last year[4] - Integration costs related to the Whitebridge Pet Brands acquisition amounted to $7 million for the nine-month period ended February 23, 2025[4] Tax and Earnings Adjustments - The effective tax rate for the nine-month period ended February 23, 2025, was 20.5%, up from 19.5% in the same period last year[5] - Adjusted effective income tax rate for the quarter ended February 23, 2025, is 21.0%, compared to 18.4% for the same quarter in 2024[77] - The sum of adjustments to income taxes for the nine-month period is $(5.2) million, with a significant adjustment of $45.1 million in the previous year[77] - Goodwill impairment recorded for the nine-month period ended February 23, 2025, is $117.1 million[77] Product Management Challenges - Product recall net costs for the nine-month period are $(30.7) million, reflecting ongoing challenges in product management[77]

Core Viewpoint - General Mills is expected to report a decline in quarterly earnings and revenues, with analysts predicting earnings of $0.95 per share, an 18.8% decrease year-over-year, and revenues of $4.96 billion, a 2.8% decrease compared to the same period last year [1]. Earnings Estimates - The consensus EPS estimate for the quarter has been adjusted downward by 2.4% over the past 30 days, indicating a reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Key Metrics Forecast - Analysts forecast 'Net Sales- North America Foodservice' to reach $576.36 million, reflecting a year-over-year increase of 4.5% [5]. - 'Net Sales- International' is expected to be $686.85 million, indicating a 1% year-over-year increase [5]. - 'Net Sales- North America Pet' is projected at $636.11 million, showing a 1.9% increase year-over-year [5]. - 'Net Sales- North America Retail' is anticipated to be $3.07 billion, representing a 5.3% decrease from the previous year [6]. Operating Profit Estimates - 'Operating Profit- North America Retail' is expected to be $671.69 million, down from $752.20 million year-over-year [6]. - 'Operating Profit- International' is projected at $20.31 million, an increase from $18.20 million in the same quarter last year [7]. - 'Operating Profit- North America Pet' is forecasted to reach $131.74 million, compared to $128.30 million in the same quarter of the previous year [7]. - 'Operating Profit- North America Foodservice' is expected to be $88.74 million, up from $81.70 million in the same quarter last year [8]. Stock Performance - General Mills shares have increased by 0.5% over the past month, contrasting with a -9.6% change in the Zacks S&P 500 composite [9]. - The company holds a Zacks Rank 3 (Hold), indicating it is expected to closely follow overall market performance in the near term [9].