Wall Street wants 72 cents a share from General Mills, down from 86 a year ago. Will Cheerios' maker clear that bar on Sept 23?

General Mills reported fiscal 2027 first-quarter results on September 23, 2026, posting adjusted earnings of 75 cents per share, ahead of the 72-cent Wall Street consensus. Net sales came in at $4.4 billion, down about 3 percent from a year earlier, a decline the company attributed largely to its divestiture of the U.S. yogurt business; organic net sales were flat. North America Retail, the company's largest segment, saw sales fall 7 percent, including a four-point drag from the yogurt sale, while Foodservice and International sales grew 4 percent organically. Diluted EPS of 74 cents was down sharply year over year, reflecting a roughly $1 billion gain booked a year earlier from the yogurt divestiture that did not repeat in this quarter. Higher input costs also pressured margins, with adjusted gross margin contracting 90 basis points. General Mills reaffirmed its full-year fiscal 2027 guidance of $3.00 to $3.20 in adjusted diluted EPS and reiterated a $750 million cost-savings target.

Sixty percent of the community correctly anticipated General Mills would clear the 72-cent bar, matching the actual outcome. Despite the beat, investors reacted cautiously and shares traded lower in early trading, as the results were viewed as incrementally better rather than a sign of a broader sales turnaround.