General Mills Stock Rises After Q1 Earnings Top Wall Street Estimates

Core Viewpoint - General Mills, Inc. reported fiscal 2026 first-quarter results that exceeded Wall Street expectations, with adjusted earnings per share of 86 cents and revenue of $4.52 billion, slightly above projections [1] Group 1: Financial Performance - Adjusted earnings per share came in at 86 cents, surpassing analyst estimates of 81 cents [1] - Revenue for the quarter was $4.52 billion, edging past projections of $4.51 billion [1] - The company reaffirmed its fiscal 2026 outlook, forecasting adjusted operating profit and adjusted EPS to decline by 10% to 15% in constant currency [2] Group 2: Analyst Insights - RBC Capital Markets analyst Nik Modi reiterated an Outperform rating on General Mills with a price target of $63, indicating confidence in the company's performance despite a sluggish environment [3] - Modi noted that the FY26 EPS guidance provides a cushion for the company to deliver results amid ongoing price investments [3] Group 3: Strategic Adjustments - General Mills is adjusting price/value across approximately two-thirds of its portfolio to address price cliffs and gaps, with over half of this adjustment completed in the first quarter [4] - The company is targeting around 5,000 coolers for the fresh pet food rollout by the end of the second quarter, with about 1,000 expected to be in place by the end of September [5] Group 4: Market Performance - General Mills shares were trading higher by 1.36% to $49.84 at the time of publication [6]