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May 25
General Mills Q4 2025 Earnings Report
General Mills reported lower revenue and earnings for Q4 2025 amid trade expense headwinds and higher costs.
Key Takeaways
General Mills experienced a 3% revenue decline and a 46% drop in EPS in Q4 2025, driven by decreased volume and unfavorable price/mix. Adjusted EPS also declined, and net income nearly halved from the prior year.
Revenue for Q4 2025 was $4.56B, down 3% YoY.
EPS declined 46% to $0.53; adjusted EPS was $0.74.
Net income fell to $294M from $557.5M last year.
Unfavorable trade expense timing significantly impacted margins.
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
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
General Mills expects flat to slightly negative organic net sales growth in FY26 and forecasts a decline of 10–15% in adjusted EPS and operating profit.
Positive Outlook
- Increased investments in consumer value and innovation.
- Blue Buffalo launch into fresh pet food planned for late 2025.
- Global transformation initiative expected to yield $100M in savings.
- Focus on restoring volume-driven growth in FY26.
- 53rd week expected to provide some benefit.
Challenges Ahead
- Adjusted EPS projected to decline 10–15% in FY26.
- Adjusted operating profit expected to drop 10–15%.
- Net impact of divestitures and acquisitions will reduce profit growth by ~5 points.
- Continued input cost inflation including tariffs.
- Reset of corporate incentives expected to pressure margins.
Revenue & Expenses
Visualization of income flow from segment revenue to net income