earnings
confidence high
sentiment negative
materiality 0.75
General Mills Q2 net sales down 7% to $4.9B; diluted EPS $0.78, down 45%; reaffirms FY26 outlook
GENERAL MILLS INC
2026-Q2 EPS reported
$3.00
revenue$9,378,300,000
- Diluted EPS $0.78 down 45% YoY; adjusted diluted EPS $1.10 down 21% in constant currency.
- Organic net sales down 1% vs prior year; reported net sales $4.9B down 7% including 6pp divestiture headwind.
- North America Retail organic net sales down 3%; North America Pet organic up 1%; International organic up 4%.
- Gross margin fell 210bps to 34.8%; adjusted gross margin fell 150bps to 34.8% on higher input costs.
- Reaffirmed FY26 outlook: organic net sales -1% to +1%; adjusted OP and EPS down 10-15% in constant currency.