)
Company Research2 Apr 2024
The Consumer Goods Sector: Housing the World's Most Known Brands
Explore the giants of the consumer goods sector, where iconic brands familiar in daily life are predominantly owned by a few key industry players.
General Mills (GIS) investor relations material
General Mills Q2 2026 [Q&A] earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 [Q&A] earnings summary17 Dec, 2025
Executive summary
Achieved strong execution on organic sales growth, margin management, and transformation initiatives in Q2, with sequential improvement in organic volume and net sales, despite a volatile environment and significant investments in brand remarkability and innovation.
Net sales for the quarter ended November 23, 2025, decreased 7% year-over-year, primarily due to lower volume and the impact of divestitures and acquisitions, partially offset by favorable price/mix.
Operating profit declined 32% to $728 million in Q2, with a 560 basis point drop in margin, driven by lower volume, higher input costs, and increased restructuring and impairment charges.
Diluted EPS fell 45% to $0.78; adjusted diluted EPS was $1.10, down 21% on a constant-currency basis.
A $1.05 billion pre-tax gain from the sale of the U.S. yogurt business offset some profit declines in the six-month period.
Financial highlights
Quarterly net sales: $4.9 billion, down 7%; six-month net sales: $9.4 billion, down 7%.
Adjusted operating profit for the six months was $1,559 million, down 19% on a constant-currency basis.
Adjusted operating profit margin: 17.4% (down 290 bps); quarterly gross margin: 34.8% (down 210 bps).
Cash provided by operations was $1,216 million for the six months, down from $1,775 million a year ago.
Net earnings attributable to shareholders for the quarter were $413 million, down 48% year-over-year.
Outlook and guidance
Full-year fiscal 2026 outlook reaffirmed: organic net sales expected between -1% and +1%, with adjusted operating profit and adjusted diluted EPS both expected to decline 10–15% in constant currency.
Free cash flow conversion expected to be at least 95% of adjusted after-tax earnings.
Net impact of divestitures, acquisitions, FX, and 53rd week to reduce net sales growth by ~4%.
Q3 profit expected to be down due to reversal of Q2 timing benefits; Q4 to benefit from trade expense timing and 53rd week, driving about 30% profit growth.
Category growth is expected to be below long-term projections due to less benefit from price/mix and a challenging consumer environment.
NAR dollar growth return timeline?
Love Made Fresh launch impact on Pet profit?
CPW Australia impairment drivers?
NAR volume sustainability post-shipment timing?
LMF halo effect on core pet business?
Cereal category performance and growth strategy?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next General Mills earnings date
Q3 202618 Mar, 2026
Next General Mills earnings date
Q3 202618 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
An American Staple in Consumer Foods
General Mills, Inc. is an American company with global operations that produces a large number of various processed consumer foods. Its portfolio includes well-known brands that have become staples in pantries all over the world. It is one of the leaders in the sector, and the company’s products are sold all over the world. General Mills is headquartered in a suburb of Minneapolis, Minnesota, and its shares are listed on the NYSE.
Minneapolis Milling Company
General Mills began as the Minneapolis Milling Company, founded in 1866 by Cadwallader C. Washburn. Initially, it focused on milling wheat into flour, using the flow of the Mississippi to do so. The company introduced a revolutionary milling technique in the 1870s, which produced superior-quality flour and positioned Minneapolis as a milling center in the US.
In 1928, several milling companies, including the Washburn-Crosby Company (successor to Minneapolis Milling Company), merged to form General Mills and in the subsequent decade, the company diversified beyond flour. From the 1960s to the 1990s, the company grew rapidly through acquisitions as well as through the introduction of several now-iconic food products.
Subsidiary Brands
General Mills operates a substantial portion of its business through a diverse range of subsidiary brands, each catering to specific market segments and consumer needs. This model allows the company to maintain a broad and varied product portfolio, appealing to a wide audience. Subsidiaries like Pillsbury, Cheerios, Betty Crocker, and Yoplait, among others, operate under the General Mills umbrella while maintaining individual brand identities. Some similar companies that are also publicly listed are Conagra, Kellogg Company, and J.M. Smucker.
Global Scale
The company operates in well over 100 countries, and General Mills sells a combination of local and international brands around the world. The company's international operations are not just limited to sales; they include a vast network of manufacturing facilities, distribution channels, and supply chains.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage