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Aug 25, 2024
General Mills Q1 2025 Earnings Report
General Mills reported a decrease in net sales and operating profit for Q1 2025, but reaffirmed its full-year outlook, focusing on accelerating organic net sales growth.
Key Takeaways
General Mills reported a 1% decrease in net sales to $4.8 billion and an 11% decrease in operating profit to $832 million. Diluted EPS decreased by 10% to $1.03. The company reaffirmed its full-year fiscal 2025 outlook, emphasizing its commitment to accelerating organic net sales growth and reshaping its portfolio.
Net sales decreased by 1% to $4.8 billion; organic net sales also declined by 1%.
Operating profit decreased by 11% to $832 million; adjusted operating profit decreased by 4% in constant currency.
Diluted earnings per share (EPS) decreased by 10% to $1.03; adjusted diluted EPS decreased by 2% in constant currency.
Company reaffirms full-year fiscal 2025 outlook.
General Mills
General Mills
General Mills Revenue by Segment
General Mills Revenue by Geographic Location
Revenue by Segment
North America Retail Revenue
CapyFin.comNorth America Pet Revenue
CapyFin.comNorth America Foodservice Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
General Mills reaffirmed its full-year fiscal 2025 financial targets, expecting organic net sales to range between flat and up 1 percent, adjusted operating profit to range between down 2 percent and flat in constant currency, and adjusted diluted EPS to range between down 1 percent and up 1 percent in constant currency. Free cash flow conversion is expected to be at least 95 percent of adjusted after-tax earnings. These targets do not reflect an impact from the proposed North American Yogurt divestitures.
Positive Outlook
- Organic net sales are expected to range between flat and up 1 percent.
- Adjusted operating profit is expected to range between down 2 percent and flat in constant currency.
- Adjusted diluted EPS is expected to range between down 1 percent and up 1 percent in constant currency.
- Free cash flow conversion is expected to be at least 95 percent of adjusted after-tax earnings.
- Company expects to accelerate its organic net sales growth by delivering remarkable experiences across its leading food brands.
Challenges Ahead
- Targets do not reflect an impact from the proposed North American Yogurt divestitures.
- Full-year category dollar growth is expected to be below the company’s long-term growth projections.
- Continued uncertain macroeconomic backdrop for consumers across its core markets.
- Volume trends in its categories will gradually improve in fiscal 2025
- Company expects to incorporate the divestitures into its outlook after the transactions are closed.
Revenue & Expenses
Visualization of income flow from segment revenue to net income