General Mills Q3 sales fall 8%, EPS falls 50%; full-year outlook reaffirmed
General Mills reported fiscal 2026 third-quarter results on March 18, 2026, with net sales of $4.4 billion, down 8%, and diluted EPS of $0.56, down 50%. The company reaffirmed its full-year fiscal 2026 targets, which include adjusted operating profit and adjusted diluted EPS both expected to be down 16 to 20 percent in constant currency. For shareholders, the quarter shows steep declines in sales and earnings, while the unchanged outlook signals that management still expects a fourth-quarter improvement.
Key points
- Third-quarter net sales were $4.4 billion, down 8%, with organic net sales down 3%.
- Diluted EPS was $0.56, down 50%; adjusted diluted EPS was $0.64, down 37% in constant currency.
- Operating profit was $525 million, down 41%; nine-month operating profit rose 6% to $3.0 billion, driven by a $1.0 billion gain on divestitures.
- Full-year fiscal 2026 organic net sales are expected to be down 1.5 to 2 percent.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 AM ET, from the text of the filing and its press-release exhibits 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 March 18, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.