General Mills Q3 EPS Misses by $0.09 as Revenue Falls 8%
General Mills' Q3 adjusted EPS of $0.64 missed estimates by $0.09, while revenue slid 8% YoY to $4.4 billion. The company reaffirmed fiscal 2026 guidance forecasting a 1.5–2% drop in organic net sales and a 16–20% decline in adjusted operating profit and EPS.
1. Q3 Financial Results
General Mills reported adjusted EPS of $0.64, missing consensus by $0.09, and generated $4.4 billion in revenue, down 8% year-over-year. Adjusted operating profit fell 32% in constant currency to $547 million as higher input costs and lower volumes weighed on margins.
2. Segment Performance
Organic net sales declined 3% overall, with North America Retail down 4% despite holding or gaining pound share in seven of its top ten U.S. categories. Declines were driven by reduced organic pound volume, unfavorable price realization and mix.
3. Guidance and Outlook
The company maintained its full-year fiscal 2026 forecast for a 1.5–2% drop in organic net sales and 16–20% declines in adjusted operating profit and EPS in constant currency. Management expects sequential Q4 improvement from favorable timing comparisons, a 53rd week and continued market share gains.