earnings
confidence high
sentiment neutral
materiality 0.75
General Mills Q1 net sales down 1%, EPS down 10%; announces $2.1B yogurt divestiture, reaffirms FY25 outlook
GENERAL MILLS INC
2025-Q1 EPS reported
$1.03
revenue$4,848,100,000
- Net sales $4.8B (-1% YoY); adjusted EPS $1.07 (-2% constant currency); organic net sales -1%.
- Announces sale of North American Yogurt business to Lactalis and Sodiaal for $2.1B; expected close in calendar 2025; dilutive ~3% to adj. EPS in first 12 months post-close.
- Segment: NA Retail op profit -7%, NA Pet +7%, NA Foodservice +21%, International -58% (constant currency).
- Reaffirms FY25 outlook: organic net sales flat to +1%, adj. op profit -2% to flat, adj. EPS -1% to +1% constant currency.
- Share repurchases $300M in Q1 vs $500M last year; average diluted shares down 5% to 564M.