General Mills Beats Earnings Estimates, Reaffirms Full-Year Outlook

Group 1 - General Mills, Inc. reported fiscal first-quarter 2026 results that exceeded Wall Street profit expectations while reaffirming its full-year guidance [1] - The company posted adjusted earnings of $0.86 per share, surpassing analysts' forecast of $0.81, despite a 7% decline in net sales to $4.5 billion [1] - Revenue was in line with expectations at $4.52 billion but fell 3% organically, impacted by unfavorable price realization and mix in the North America Retail segment [1] Group 2 - Adjusted operating profit decreased 18% in constant currency to $711 million, although results were slightly better than internal projections [2] - The divestiture of the U.S. yogurt business generated a $1.05 billion gain, boosting reported operating profit by 108% to $1.7 billion and diluted EPS by 116% to $2.22 [2] Group 3 - By division, North America Retail sales dropped 13%, while North America Pet sales grew 6%, aided by an 11-point benefit from the Whitebridge Pet Brands acquisition [3] - North America Foodservice sales declined 4%, and International sales rose 6% [3] - General Mills reaffirmed its fiscal 2026 outlook, projecting organic net sales growth between -1% and +1%, with adjusted operating profit and EPS both expected to decline 10% to 15% in constant currency [3]