General Mills Inc reported fiscal 2026 revenue of $18.425B and a loss per diluted share of $(0.16), with net income attributable to General Mills at a $(87.6)M loss for the year, driven largely by impairments and restructuring charges versus prior-year net income of $2295.2M.
Financial Highlights
- Revenue was $18.425B, compared with $19.487B in the prior year; YoY change (5%).
- Net income was $(87.6)M, compared with $2295.2M in the prior year; YoY change large decline.
- Diluted EPS was $(0.16), compared with $4.1 in the prior year; YoY change (104%).
Business Highlights
- Net sales fell 5% in fiscal 2026, with an organic sales decline of 2%; North America Retail decreased 11% driven by volume declines and divestitures.
- Organic volumes contracted across key categories; pounds in North America Retail declined and Pet demand slowed amid retailer inventory effects.
- Company is prioritizing brand remarkability and product innovation (better-for-you offerings and bold flavors) to support topline recovery.
- Management targets $3.0B cumulative savings through Holistic Margin Management and a global transformation to fund growth initiatives.
- Operational actions during the year included completion of the U.S. yogurt divestiture and recording impairments and restructuring to reshape the portfolio and streamline the supply chain.
Original SEC Filing:
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