Today, General Mills, Inc. announced its second-quarter results, highlighting the effects of investments, the divestiture of North American yogurt operations, and a challenging comparison in trade expenses with fiscal 2025.
In Q2, General Mills reported net income of $413 million, or 78 cents a share, down from $795.7 million, or $1.42 a share, the year before.
General Mills Chairman and Chief Executive Officer Jeff Harmening told investors, “Our team continued to execute exceptionally well in a volatile operating environment, delivering results ahead of our expectations in the second quarter. Our investments in remarkability are working, helping restore organic volume growth in North America. Retail this quarter and driving strong competitiveness across each of our segments.”
“With improved momentum in the first half and confidence in our plans to drive further improvement in the rest of the year, we are reaffirming our full-year fiscal 2026 outlook,” Harmening concluded.
Moving forward, General Mills stated, “In fiscal 2026, General Mills is investing in its brands to restore volume-driven organic net sales growth, with initiatives that touch all elements of the Company’s Remarkable Experience Framework: product, packaging, brand communication, omnichannel execution, and consumer value. This includes strong innovation plans that are expected to generate a 25 percent increase in sales from new products in fiscal 2026.”
The Company expects to return to dollar growth after the initial price investment phase, as improved remarkability for consumers drives pound growth with favorable price/mix.
The combined effect of these growth investments is expected to be a headwind to operating profit and EPS in fiscal 2026; however, it will position the Company for stronger, more sustainable growth going forward.
profitable growth over the long term.
