What to expect when General Mills (GIS) reports Q2 2025 earnings results

Shares of General Mills, Inc. (NYSE: GIS) stayed green on Tuesday. The stock has dropped 11% over the past three months. The branded food company is scheduled to report its second quarter 2025 earnings results on Wednesday, December 18, before market open. Here’s a look at what to expect from the Q2 earnings report:

Revenue

Analysts are projecting revenue of $5.14 billion for General Mills in Q2 2025, which represents little change from the same period a year ago. In the first quarter of 2025, net sales decreased 1% year-over-year to $4.8 billion.

Earnings

The consensus target for earnings per share in Q2 2025 is $1.22, which compares to adjusted EPS of $1.25 reported in the prior-year period. In Q1 2025, adjusted EPS declined 2% in constant currency to $1.07.

Points to note

GIS has been operating against a backdrop of continued inflation and value-seeking behavior from consumers. Consumers continue to seek value in many forms and in the US, there has been a rise in at-home food consumption as eating out costs much more than eating at home. This trend has benefited the company’s retail categories in the US. GIS has been working on providing consumers with the best value options through compelling offers, convenient pack sizes and affordable price points.

Within the North America Retail segment, the company saw market share gains in most of its categories in the US during the first quarter and it expects to continue this improvement in the second quarter as well. Within the North America Foodservice segment, GIS benefited from growth and market share gains in cereals, biscuits, and frozen baked goods in away-from-home channels like schools, and healthcare and educational institutions. This strength is likely to have continued in Q2.

The Pet segment saw improvements in retail sales and market share during the first quarter and in categories like treats, the company expects product innovation to help drive gains during the back half of the fiscal year. Within the International segment, GIS saw market share growth in Europe and Australia in Q1 and although it faced headwinds in China, it has been seeing a pickup in sales in the region.

General Mills is making progress on its Accelerate strategy as it focuses on brand-building and product innovation. The company has been prioritizing the markets, platforms and brands that have the most potential for growth. As part of this strategy, GIS has been reshaping its portfolio through acquisitions and divestitures.

Last month, the company announced its decision to acquire Whitebridge Pet Brands’ North American premium Cat feeding and Pet treating business from NXMH for $1.45 billion. The business includes the Tiki Pets and Cloud Star portfolio of brands, which are expected to complement GIS’ Blue Buffalo portfolio and help it grow in the Cat feeding and Treats segments.