Categories Analysis, Consumer

Main takeaways from General Mills’ (GIS) Q4 2024 earnings report

For FY2025, General Mills expects organic sales growth to range between flat to up 1%

Shares of General Mills, Inc. (NYSE: GIS) dropped over 4% on Wednesday after the company delivered mixed results for the fourth quarter of 2024. Earnings beat estimates while revenue fell short of expectations. The stock has dropped 7% over the past three months. Here are the main takeaways from the earnings report:

Mixed results

In Q4 2024, General Mills’ net sales decreased 6% year-over-year to $4.71 billion, missing estimates of $4.86 billion. The top line decline was caused by unfavorable net price realization and mix, as well as lower pound volume. Organic sales were down 6%. GAAP EPS decreased 5% to $0.98. Adjusted EPS fell 10% to $1.01, but managed to beat the consensus target of $0.99.

Business performance

In the fourth quarter, General Mills saw sales decline across all its segments, except Foodservice. Sales in the North America Retail, Pet, and International segments were negatively impacted by unfavorable price and mix. The North America Foodservice segment saw sales increase by 4%, helped by growth in breads, cereal, and frozen biscuits.

GIS continues to invest in its brands and it is working on improving taste and bringing new flavors into some of its biggest brands and products. It is also focusing on providing healthy as well as convenient options for customers through product innovation. This will continue to be a priority for the company in fiscal year 2025 as well.

As mentioned in its report, returning the Pet segment to growth is another priority for GIS. In Q4, sales in the Pet segment fell 8%. The company believes the trend of pet humanization will drive growth in this category over the long term. It continues to invest in product innovation and packaging as well as providing offerings at optimal prices within this segment.


Looking ahead to fiscal year 2025, General Mills anticipates an uncertain macroeconomic environment across its core markets. Even so, the company expects to see a gradual improvement in category volumes during the year. It also plans to fuel organic sales growth through investments in its leading brands that will help drive household penetration and market share.

For FY2025, General Mills expects organic sales growth to range between flat to up 1%. Adjusted EPS is expected to range between down 1% and up 1% in constant currency from the base of $4.52 earned in FY2024.

Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.

Most Popular

ISRG Earnings: Intuitive Surgical Q2 profit jumps on strong revenue growth

Medical device company Intuitive Surgical, Inc. (NASDAQ: ISRG) announced operating results for the second quarter of 2024, reporting higher revenues and adjusted profit. Second-quarter net profit, excluding one-off items, climbed

Infographic: Halliburton (HAL) reports strong earnings growth for Q2 2024

Energy giant Halliburton Company (NYSE: HAL) Friday announced financial results for the second quarter of 2024, reporting a double-digit increase in net profit. Second-quarter revenue edged up 1% annually to

AXP Earnings: Key quarterly highlights from American Express’ Q2 2024 financial results

American Express Company (NYSE: AXP) reported its second quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, were $16.3 billion, up 8% from a year ago, driven

Add Comment
Viewing Highlight