General Mills Reports Second-Quarter Results Above Analyst Estimates
General Mills, Inc. (NYSE: GIS) reported second-quarter adjusted earnings of $1.10 per share for the period ended Nov 23, 2025, exceeding the consensus analyst estimate of $1.02. Shares of the company rose more than 3% during intra-day trading on Dec 17, 2025, following the announcement.
Net sales for the quarter totaled $4.9 billion, surpassing the $4.78 billion forecast. This figure represents a 7% decline compared to the same period last year, primarily due to a 6-percentage-point headwind from divestitures and acquisitions, including the sale of the North American yogurt business. Organic net sales decreased by 1% year-over-year.
The company adjusted operating profit fell 20% in constant currency terms to $848 million. Adjusted operating margins contracted by 290 basis points to 17.4%. Segment performance varied across the portfolio:
- North America Retail net sales declined 13%, including a 10-point impact from yogurt divestitures.
- North America Pet net sales increased 11%, aided by the acquisition of Whitebridge Pet Brands.
- International net sales rose 6%, driven by performance in Brazil, China, India, and North Asia.
General Mills reaffirmed its fiscal 2026 outlook, projecting organic net sales between a 1% decline and a 1% increase. The company expects adjusted operating profit and adjusted diluted earnings per share to decrease between 10% and 15% in constant currency. Further details are available in the GIS and GIS reports.
The company continues to manage its portfolio through strategic divestitures and acquisitions to align with its long-term vision. Historical context on the organization can be found in the GIS and GIS blogs.
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