General Mills FY2027 Q1: organic sales flat, adjusted EPS down 13%
General Mills was flat where it wanted growth and down double digits where it wanted stability: organic net sales did not move, but adjusted EPS fell 13.0% and adjusted operating profit 11.0% in constant currency. A $1.05 billion yogurt gain a year ago distorts the headline, so judge this quarter on the adjusted lines — and on cash, which weakened.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $0.74 looks like a collapse next to $2.22, but last year's quarter contained a $1.05 billion divestiture gain worth $1.43 a share. Strip out one-timers and adjusted EPS was $0.75, down 13.0% in constant currency on lower adjusted operating profit and $142.2 million of net interest expense versus $132.8 million. A 1.0% lower diluted share count of 537.9 million helped only marginally.
Reported net sales fell 3.0% to $4.39 billion, and essentially all of that is the U.S. yogurt divestiture; organic net sales were flat. The mix underneath is uneven: North America Retail organic sales fell 3.0% while Foodservice and International each grew 4.0%. Volume was the drag, costing 1 point organically and offsetting flat price/mix.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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