Analyst Consensus ?
ConsensusHold36 ratings
Bullish822.2%
Neutral2261.1%
Bearish616.7%
General Mills, Inc. · GIS · FY2026 Q4 · Calendar Q3 2026
General Mills Q4 FY26 EPS Beats by 19% as It Pivots to Innovation-Led Growth
General Mills closed fiscal 2026 with a 19% EPS beat, confirming the Q4 step-up management had previously signaled. The company is pivoting from a year of price-based reinvestment toward innovation-led growth for FY27, underpinned by a newly announced $3 billion cost-savings program through fiscal 2030. Management expects a pressured consumer environment to persist but believes new product launches and brand remarkability will drive share gains and margin expansion.
Reported Before market openNYSEConsumer Defensive
$19.44B market cap
100quality score
Company context
Snapshot as of publicationGeneral Mills, Inc. functions as a prominent global producer and vendor of well-known consumer food brands. The company structures its widespread operations into five main divisions: North American retail, convenience stores and foodservice providers, Europe and Australia, Asia and Latin America, and a dedicated pet segment. Their broad catalog of products features a diverse range of items for consumers. This includes breakfast cereals, chilled yogurts, various soups, and ready-to-prepare meal kits. The offering also extends to refrigerated and frozen dough items, baking and dessert mixes, flours for culinary use, frozen pizzas and pizza snacks, along with an assortment of snack bars, fruit snacks, savory and grain snacks, and ice cream. For health-conscious consumers, they provide nutrition bars and wellness beverages, in addition to organic frozen and shelf-stable vegetables. Beyond direct consumer sales, General Mills supplies both branded and unbranded food goods to the North American foodservice sector and commercial bakeries.…
Earnings scorecard
Reported versus consensus
Reported EPS
$0.95
Consensus $1
EPS surprise
+19.2%
Reported versus consensus
Reported revenue
$4.61B
Consensus $4.59B
Revenue surprise
+0.5%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$36.42Current
$31Low
$58.5Average
$90High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Underweight | Underweight | Maintain | Jul 2, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jul 2, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Jul 2, 2026 |
| Jefferies | Hold | Hold | Maintain | Jul 2, 2026 |
| Freedom Broker | Hold | Hold | Maintain | Jul 2, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Jul 2, 2026 |
| BNP Paribas | Neutral | Neutral | Maintain | Jul 2, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Jul 2, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jun 25, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Jun 5, 2026 |
| UBS | Sell | Sell | Maintain | Jun 2, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | May 13, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | May 12, 2026 |
| Stifel | Buy | Buy | Maintain | Apr 21, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Mar 19, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Mar 19, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Mar 19, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | Feb 18, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Mar 14, 2025 |
| Argus Research | Hold | Buy | Downgrade | Jul 16, 2024 |
| HSBC | Hold | Hold | Maintain | Mar 21, 2024 |
| Exane BNP Paribas | Neutral | Outperform | Downgrade | Sep 5, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Dec 21, 2022 |
| BMO Capital | Market Perform | Market Perform | Maintain | Sep 22, 2022 |
| CFRA | Buy | Hold | Upgrade | Mar 6, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Sep 19, 2019 |
| Guggenheim | Buy | Buy | Maintain | Jan 23, 2019 |
| Standpoint Research | Buy | Buy | Maintain | Dec 26, 2018 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| Susquehanna | Positive | Neutral | Upgrade | Mar 23, 2018 |
| Societe Generale | Hold | Sell | Upgrade | Mar 22, 2018 |
| PiperJaffray | Neutral | Underweight | Upgrade | Jan 3, 2018 |
| Bank of America | Neutral | Neutral | Maintain | Sep 21, 2017 |
| Consumer Edge Research | Underperform | Neutral | Downgrade | Sep 20, 2016 |
| Consumer Edge | Underperform | Neutral | Downgrade | Sep 20, 2016 |
| Argus Capital | Buy | Hold | Upgrade | Mar 27, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $36.42. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $33 | $36.08 | -9.4% | Jul 6, 2026 |
| Deutsche Bank | Analyst unavailable | $33 | $37.26 | -9.4% | Jul 2, 2026 |
| Wells Fargo | Analyst unavailable | $33 | $37.77 | -9.4% | Jul 2, 2026 |
| Jefferies | Analyst unavailable | $36 | $37.77 | -1.2% | Jul 1, 2026 |
| Morgan Stanley | Analyst unavailable | $32 | $32.2 | -12.1% | Jun 5, 2026 |
| Bernstein | Analyst unavailable | $31 | $33.07 | -14.9% | Jun 3, 2026 |
| UBS | Analyst unavailable | $30 | $33.1 | -17.6% | Jun 2, 2026 |
| Goldman Sachs | Leah Jordan | $36 | $33.63 | -1.2% | Jun 2, 2026 |
| Piper Sandler | Michael Lavery | $41 | $34.13 | +12.6% | May 13, 2026 |
| Barclays | Analyst unavailable | $36 | $34.68 | -1.2% | May 11, 2026 |
| Stifel Nicolaus | Analyst unavailable | $40 | $35.28 | +9.8% | Apr 21, 2026 |
| Wells Fargo | Chris Carey | $35 | $40.66 | -3.9% | Mar 12, 2026 |
| UBS | Peter Grom | $40 | $41.1 | +9.8% | Mar 11, 2026 |
| Mizuho Securities | Analyst unavailable | $47 | $44.62 | +29.0% | Feb 23, 2026 |
| Evercore ISI | David Palmer | $45 | $44.37 | +23.6% | Feb 18, 2026 |
| Morgan Stanley | Analyst unavailable | $44 | $44.96 | +20.8% | Feb 18, 2026 |
| Stifel Nicolaus | Matthew Smith | $50 | $44.96 | +37.3% | Feb 18, 2026 |
| Bernstein | Analyst unavailable | $48 | $44.96 | +31.8% | Feb 18, 2026 |
| Piper Sandler | Analyst unavailable | $53 | $44.96 | +45.5% | Feb 18, 2026 |
| Barclays | Analyst unavailable | $46 | $44.96 | +26.3% | Feb 18, 2026 |
| UBS | Analyst unavailable | $46 | $47.96 | +26.3% | Feb 13, 2026 |
| Wells Fargo | Analyst unavailable | $49 | $44.71 | +34.5% | Jan 5, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $47 | $47.51 | +29.0% | Dec 22, 2025 |
| Deutsche Bank | Analyst unavailable | $51 | $48.92 | +40.0% | Dec 18, 2025 |
| Piper Sandler | Michael Lavery | $60 | $48.68 | +64.7% | Dec 18, 2025 |
| Bernstein | Analyst unavailable | $54 | $48.61 | +48.3% | Dec 18, 2025 |
| Wells Fargo | Analyst unavailable | $51 | $48.61 | +40.0% | Dec 18, 2025 |
| Morgan Stanley | Analyst unavailable | $51 | $48.61 | +40.0% | Dec 18, 2025 |
| RBC Capital | Nik Modi | $63 | $48.05 | +73.0% | Dec 17, 2025 |
| Morgan Stanley | Megan Clapp | $48 | $48.05 | +31.8% | Dec 17, 2025 |
| Bernstein | Alexia Howard | $55 | $46.68 | +51.0% | Dec 15, 2025 |
| Wells Fargo | Chris Carey | $50 | $46.82 | +37.3% | Dec 12, 2025 |
| Jefferies | Scott Marks | $47 | $46.32 | +29.0% | Dec 11, 2025 |
| Stifel Nicolaus | Analyst unavailable | $52 | $45.71 | +42.8% | Dec 11, 2025 |
| Mizuho Securities | Analyst unavailable | $52 | $50.3 | +42.8% | Sep 19, 2025 |
| UBS | Analyst unavailable | $47 | $49.1 | +29.0% | Sep 18, 2025 |
| Wells Fargo | Chris Carey | $53 | $50.68 | +45.5% | Jun 26, 2025 |
| Morgan Stanley | Analyst unavailable | $53 | $58.17 | +45.5% | Mar 24, 2025 |
| Deutsche Bank | Steve Powers | $68 | $66.14 | +86.7% | Dec 19, 2024 |
| Barclays | Andrew Lazar | $74 | $74.9 | +103.2% | Sep 20, 2024 |
| Stifel Nicolaus | Matthew Smith | $82 | $74.43 | +125.2% | Sep 19, 2024 |
| Piper Sandler | Michael Lavery | $84 | $75.01 | +130.6% | Sep 19, 2024 |
| Citigroup | Thomas Palmer | $75 | $75.01 | +105.9% | Sep 18, 2024 |
| Bank of America Securities | Bryan Spillane | $78 | $74.74 | +114.2% | Sep 17, 2024 |
| Coker Palmer | Thomas Palmer | $76 | $73.71 | +108.7% | Sep 16, 2024 |
| Wells Fargo | Chris Carey | $67 | $72.86 | +84.0% | Sep 13, 2024 |
| Mizuho Securities | John Baumgartner | $62 | $62.88 | +70.2% | Jul 5, 2024 |
| Stifel Nicolaus | Matthew Smith | $70 | $64.17 | +92.2% | Jun 27, 2024 |
| RBC Capital | Nik Modi | $70 | $67.56 | +92.2% | Jun 21, 2024 |
| Bernstein | Alexia Howard | $70 | $70.85 | +92.2% | May 15, 2024 |
| Argus Research | Taylor Conrad | $84 | $70.38 | +130.6% | Apr 5, 2024 |
| J.P. Morgan | Ken Goldman | $70 | $68.78 | +92.2% | Mar 21, 2024 |
| HSBC | Alejandro Zamacona | $76 | $68.76 | +108.7% | Mar 21, 2024 |
| Mizuho Securities | John Baumgartner | $70 | $68.76 | +92.2% | Mar 21, 2024 |
| Deutsche Bank | Steve Powers | $70 | $68.76 | +92.2% | Mar 21, 2024 |
| CFRA | Arun Sundaram | $76 | $69.43 | +108.7% | Mar 20, 2024 |
| Mizuho Securities | John Baumgartner | $65 | $64.36 | +78.5% | Dec 22, 2023 |
| Piper Sandler | Michael Lavery | $76 | $66.41 | +108.7% | Dec 19, 2023 |
| Argus Research | David Coleman | $90 | $65.54 | +147.1% | Nov 6, 2023 |
| Morgan Stanley | Pamela Kaufman | $72 | $76.4 | +97.7% | Jun 29, 2023 |
| Stifel Nicolaus | Matthew Smith | $95 | $81.85 | +160.8% | Jun 27, 2023 |
| Wells Fargo | Analyst unavailable | $88 | $82.9 | +141.6% | Jan 3, 2023 |
| UBS | Analyst unavailable | $85 | $83.93 | +133.4% | Dec 21, 2022 |
| RBC Capital | Nik Modi | $76 | $83.13 | +108.7% | Dec 21, 2022 |
| Morgan Stanley | Analyst unavailable | $73 | $84.02 | +100.4% | Dec 20, 2022 |
| Piper Sandler | Analyst unavailable | $95 | $87.33 | +160.8% | Dec 15, 2022 |
| BNP Paribas | Analyst unavailable | $90 | $77.06 | +147.1% | Nov 15, 2022 |
| Credit Suisse | Robert Moskow | $77 | $80.99 | +111.4% | Sep 22, 2022 |
| BMO Capital | Analyst unavailable | $85 | $80.58 | +133.4% | Sep 22, 2022 |
| Morgan Stanley | Analyst unavailable | $71 | $80.67 | +94.9% | Sep 22, 2022 |
| Credit Suisse | Robert Moskow | $81 | $79.72 | +122.4% | Sep 22, 2022 |
| Credit Suisse | Analyst unavailable | $77 | $80.48 | +111.4% | Sep 22, 2022 |
| Deutsche Bank | Analyst unavailable | $88 | $79.72 | +141.6% | Sep 22, 2022 |
| Piper Sandler | Michael Lavery | $88 | $79.72 | +141.6% | Sep 22, 2022 |
| Morgan Stanley | Pamela Kaufman | $66 | $75.01 | +81.2% | Sep 13, 2022 |
| RBC Capital | Analyst unavailable | $68 | $75.45 | +86.7% | Jul 1, 2022 |
| Deutsche Bank | Analyst unavailable | $81 | $74.64 | +122.4% | Jun 30, 2022 |
| Citigroup | Analyst unavailable | $88 | $74.72 | +141.6% | Jun 30, 2022 |
| BMO Capital | Analyst unavailable | $80 | $74.72 | +119.7% | Jun 30, 2022 |
| Piper Sandler | Analyst unavailable | $80 | $74.72 | +119.7% | Jun 30, 2022 |
| Stifel Nicolaus | Christopher Growe | $64 | $67.99 | +75.7% | Feb 27, 2022 |
| Credit Suisse | Robert Moskow | $68 | $68.18 | +86.7% | Jan 31, 2022 |
| Morgan Stanley | Pamela Kaufman | $56 | $68.03 | +53.8% | Jan 11, 2022 |
| Bank of America Securities | Bryan Spillane | $70 | $67.79 | +92.2% | Jan 5, 2022 |
| Citigroup | Wendy Nicholson | $73 | $64.73 | +100.4% | Dec 22, 2021 |
| Goldman Sachs | Jason English | $53 | $59.04 | +45.5% | Jun 30, 2021 |
Track every rating change on GIS the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+8.5%
Event window
SPY move
-0.1%
Same window
Abnormal move
+8.7%
Stock minus SPY
Volume
2.5×
Versus trailing sessions
Subsequent drift
-3.6%
Up to 20 sessions
GISSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
General Mills announced a $3 billion cumulative cost-savings program through fiscal 2030, with $750 million targeted for FY27. The company divested its yogurt business at the end of June FY26, following the prior-quarter Brazil divestiture. Q4 EPS of $0.95 versus a $0.80 estimate confirmed the step-up signaled in the prior quarter. The strategic focus shifts from price-driven investments in FY26 to innovation and renovation in FY27, with new product launches including Cheerios Protein, Tiki Cat, Blasted Totino's Rolls, and an Old El Paso frozen snack.
Guidance delta
Guidance sentiment maintained from the prior quarter. New FY27 framework introduces a $750M cost-savings target as the first installment of a $3B four-year program. Management continues to expect a pressured consumer but anticipates improved price mix and household penetration trends to support growth.
Key takeaways
- Shift from price-driven investments in FY26 to innovation and renovation focus in FY27
- Targeting $750M of cost savings in FY27 as part of a $3B four-year plan
- Consumer environment remains price-sensitive; emphasis on remarkability and premium mix to win share
- Execution risk centered on Totino's and Wilderness, but new product pipelines expected to offset
- Supply-chain and enterprise transformation initiatives aim to improve speed, flexibility, and margins
Management priorities
- Launch of Cheerios Protein across categories
- Rollout of Tiki Cat products and further pet-food innovation
- Introduction of Blasted Totino's Rolls, Ultimate Pizza, and Old El Paso frozen snack
- Supply-chain redesign as part of the Global Transformation Initiative
- Continued focus on brand remarkability through packaging and communication upgrades
Sources
- Earnings call transcript and parsed analysis · 2026-07-01T19:04:54.551769+00:00
- FN2 earnings calendar · 2026-07-31T01:23:16.182055+00:00
- Polygon adjusted daily market bars · 2026-07-31T03:12:12.645578+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T03:12:12.642829+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.