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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.
Revenue by Segment
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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