General Mills Q1 sales fall 7% to $4.5 billion; reported profit rises on yogurt gain
General Mills reported fiscal first-quarter 2026 results for the period ended August 24, 2025. Net sales fell 7% to $4.5 billion, while reported operating profit and diluted EPS more than doubled, mainly because of a $1.05 billion gain on the sale of its U.S. yogurt business. Adjusted diluted EPS fell 20% in constant currency, and the company reaffirmed its full-year fiscal 2026 targets, which call for adjusted operating profit and adjusted EPS to both decline 10 to 15 percent in constant currency.
Key points
- Net sales were $4.5 billion, down 7%; organic net sales were down 3%.
- Operating profit was $1.7 billion, up 108%, including the $1.05 billion divestiture gain; adjusted operating profit was $711 million, down 18% in constant currency.
- Diluted EPS was $2.22, up 116%; adjusted diluted EPS was $0.86, down 20% in constant currency.
- Fiscal 2026 targets were reaffirmed: adjusted operating profit and adjusted diluted EPS are both expected to be down 10 to 15 percent in constant currency.
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 17, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.