General Mills Q1 sales, profit beat estimates; reaffirms 2027 outlook

Overview

• U.S. packaged foods maker's fiscal Q1 sales declined 3%, but beat analyst expectations

• Adjusted EPS for fiscal Q1 beat analyst expectations, despite falling 13% in constant currency

• Company reaffirmed full-year fiscal 2027 outlook

Outlook

• General Mills reaffirms fiscal 2027 organic net sales outlook of down 1.5% to up 0.5%

• Company expects fiscal 2027 adjusted operating profit down 13% to down 8% in constant currency

• General Mills sees fiscal 2027 adjusted diluted EPS between $3.00 and $3.20

Result Drivers

• DIVESTITURE IMPACT - Co said U.S. yogurt divestiture drove reported net sales decline

• HIGHER INPUT COSTS - Co attributed declines in adjusted operating profit and segment profits to higher input costs

• LOWER VOLUME - Co said lower volume contributed to profit declines in North America Retail and Pet segments

Company press release:

Key Details

Reuters Recommended Reads

• Sept 23 - JD Sports Fashion HY revenue falls on weaker footwear demand

• Sept 22 - Kingfisher H1 profit rises, lifts annual adjusted PBT forecast

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)