Analyst Consensus ?
ConsensusHold36 ratings
Bullish822.2%
Neutral2261.1%
Bearish616.7%
General Mills, Inc. · GIS · FY2027 Q1 · Calendar Q3 2026
General Mills leans on price mix and innovation as pressures persist
The quarter's supplied analysis supports a cautiously constructive operating thesis: improved dollar share, price-mix optimization, premium innovation and e-commerce investment provide potential support, but inflation, inventory, pet-food weakness and leverage remain material execution risks.
Reported Before market openNYSEConsumer Defensive
$18.92B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.72
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $4.35B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.1%
Event window
SPY move
-0.6%
Same window
Abnormal move
+0.7%
Stock minus SPY
Volume
0.9×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
GISSPY benchmark
Ask FN2 about GIS FY2027 Q1
Transcript, numbers and history already loaded
What drove GIS's +0.1% move after FY2027 Q1 earnings?What changed in GIS's guidance and outlook in FY2027 Q1?Give me the bull and bear case for GIS after FY2027 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the company reported a 2-point improvement in dollar share and emphasized a more active price-mix and pack-architecture strategy. New information included an expected rise in inflation to about 6% in Q4, roughly 75% wheat hedging, and an external packaging partnership aimed at accelerating e-commerce growth.
Guidance delta
Management maintained its guidance sentiment; the supplied analysis does not identify a numeric guidance change.
Key takeaways
- Dollar share improved by 2 points in Q1, supported by price mix and premium innovation.
- Management is shifting pricing toward mix optimization and pack architecture rather than base-price reductions.
- Pet remains mixed: cat and fresh-pet lines are stronger, while dry dog food and Wilderness remain pressured.
- E-commerce, packaging innovation, new products and higher marketing investment are central growth initiatives.
- Inflation and retail inventory headwinds remain important offsets to the improvement story.
Management priorities
- Execute price-mix optimization and price-pack architecture
- Accelerate premium product innovation and renovation
- Expand e-commerce through packaging and digital initiatives
- Support launches including Nature Pals, Life Protection Formula and Totino's Rolls
- Use cost savings and hedges to offset input-cost pressure while reducing leverage
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Analyst 52W Price Targets
$35.7Current
$31Low
$57.66Average
$90High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 23, 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 |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Sep 21, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Sep 14, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Sep 1, 2026 |
| 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 |
| 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 |
| 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 $35.7. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Analyst unavailable | $38 | $35.85 | +6.4% | Sep 14, 2026 |
| Jefferies | Analyst unavailable | $35 | $37.09 | -2.0% | Sep 10, 2026 |
| Scotiabank | Analyst unavailable | $43 | $41.2 | +20.4% | Sep 1, 2026 |
| UBS | Analyst unavailable | $33 | $36.08 | -7.6% | Jul 6, 2026 |
| Deutsche Bank | Analyst unavailable | $33 | $37.26 | -7.6% | Jul 2, 2026 |
| Wells Fargo | Analyst unavailable | $33 | $37.77 | -7.6% | Jul 2, 2026 |
| Jefferies | Analyst unavailable | $36 | $37.77 | +0.8% | Jul 1, 2026 |
| Morgan Stanley | Analyst unavailable | $32 | $32.2 | -10.4% | Jun 5, 2026 |
| Bernstein | Analyst unavailable | $31 | $33.07 | -13.2% | Jun 3, 2026 |
| UBS | Analyst unavailable | $30 | $33.1 | -16.0% | Jun 2, 2026 |
| Goldman Sachs | Leah Jordan | $36 | $33.63 | +0.8% | Jun 2, 2026 |
| Piper Sandler | Michael Lavery | $41 | $34.13 | +14.8% | May 13, 2026 |
| Barclays | Analyst unavailable | $36 | $34.68 | +0.8% | May 11, 2026 |
| Stifel Nicolaus | Analyst unavailable | $40 | $35.28 | +12.0% | Apr 21, 2026 |
| Wells Fargo | Chris Carey | $35 | $40.66 | -2.0% | Mar 12, 2026 |
| UBS | Peter Grom | $40 | $41.1 | +12.0% | Mar 11, 2026 |
| Mizuho Securities | Analyst unavailable | $47 | $44.62 | +31.6% | Feb 23, 2026 |
| Evercore ISI | David Palmer | $45 | $44.37 | +26.0% | Feb 18, 2026 |
| Morgan Stanley | Analyst unavailable | $44 | $44.96 | +23.2% | Feb 18, 2026 |
| Stifel Nicolaus | Matthew Smith | $50 | $44.96 | +40.0% | Feb 18, 2026 |
| Bernstein | Analyst unavailable | $48 | $44.96 | +34.4% | Feb 18, 2026 |
| Piper Sandler | Analyst unavailable | $53 | $44.96 | +48.4% | Feb 18, 2026 |
| Barclays | Analyst unavailable | $46 | $44.96 | +28.8% | Feb 18, 2026 |
| UBS | Analyst unavailable | $46 | $47.96 | +28.8% | Feb 13, 2026 |
| Wells Fargo | Analyst unavailable | $49 | $44.71 | +37.2% | Jan 5, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $47 | $47.51 | +31.6% | Dec 22, 2025 |
| Deutsche Bank | Analyst unavailable | $51 | $48.92 | +42.8% | Dec 18, 2025 |
| Piper Sandler | Michael Lavery | $60 | $48.68 | +68.0% | Dec 18, 2025 |
| Bernstein | Analyst unavailable | $54 | $48.61 | +51.2% | Dec 18, 2025 |
| Wells Fargo | Analyst unavailable | $51 | $48.61 | +42.8% | Dec 18, 2025 |
| Morgan Stanley | Analyst unavailable | $51 | $48.61 | +42.8% | Dec 18, 2025 |
| RBC Capital | Nik Modi | $63 | $48.05 | +76.4% | Dec 17, 2025 |
| Morgan Stanley | Megan Clapp | $48 | $48.05 | +34.4% | Dec 17, 2025 |
| Bernstein | Alexia Howard | $55 | $46.68 | +54.0% | Dec 15, 2025 |
| Wells Fargo | Chris Carey | $50 | $46.82 | +40.0% | Dec 12, 2025 |
| Jefferies | Scott Marks | $47 | $46.32 | +31.6% | Dec 11, 2025 |
| Stifel Nicolaus | Analyst unavailable | $52 | $45.71 | +45.6% | Dec 11, 2025 |
| Mizuho Securities | Analyst unavailable | $52 | $50.3 | +45.6% | Sep 19, 2025 |
| UBS | Analyst unavailable | $47 | $49.1 | +31.6% | Sep 18, 2025 |
| Wells Fargo | Chris Carey | $53 | $50.68 | +48.4% | Jun 26, 2025 |
| Morgan Stanley | Analyst unavailable | $53 | $58.17 | +48.4% | Mar 24, 2025 |
| Deutsche Bank | Steve Powers | $68 | $66.14 | +90.4% | Dec 19, 2024 |
| Barclays | Andrew Lazar | $74 | $74.9 | +107.3% | Sep 20, 2024 |
| Stifel Nicolaus | Matthew Smith | $82 | $74.43 | +129.7% | Sep 19, 2024 |
| Piper Sandler | Michael Lavery | $84 | $75.01 | +135.3% | Sep 19, 2024 |
| Citigroup | Thomas Palmer | $75 | $75.01 | +110.1% | Sep 18, 2024 |
| Bank of America Securities | Bryan Spillane | $78 | $74.74 | +118.5% | Sep 17, 2024 |
| Coker Palmer | Thomas Palmer | $76 | $73.71 | +112.9% | Sep 16, 2024 |
| Wells Fargo | Chris Carey | $67 | $72.86 | +87.6% | Sep 13, 2024 |
| Mizuho Securities | John Baumgartner | $62 | $62.88 | +73.6% | Jul 5, 2024 |
| Stifel Nicolaus | Matthew Smith | $70 | $64.17 | +96.1% | Jun 27, 2024 |
| RBC Capital | Nik Modi | $70 | $67.56 | +96.1% | Jun 21, 2024 |
| Bernstein | Alexia Howard | $70 | $70.85 | +96.1% | May 15, 2024 |
| Argus Research | Taylor Conrad | $84 | $70.38 | +135.3% | Apr 5, 2024 |
| J.P. Morgan | Ken Goldman | $70 | $68.78 | +96.1% | Mar 21, 2024 |
| HSBC | Alejandro Zamacona | $76 | $68.76 | +112.9% | Mar 21, 2024 |
| Mizuho Securities | John Baumgartner | $70 | $68.76 | +96.1% | Mar 21, 2024 |
| Deutsche Bank | Steve Powers | $70 | $68.76 | +96.1% | Mar 21, 2024 |
| CFRA | Arun Sundaram | $76 | $69.43 | +112.9% | Mar 20, 2024 |
| Mizuho Securities | John Baumgartner | $65 | $64.36 | +82.0% | Dec 22, 2023 |
| Piper Sandler | Michael Lavery | $76 | $66.41 | +112.9% | Dec 19, 2023 |
| Argus Research | David Coleman | $90 | $65.54 | +152.1% | Nov 6, 2023 |
| Morgan Stanley | Pamela Kaufman | $72 | $76.4 | +101.7% | Jun 29, 2023 |
| Stifel Nicolaus | Matthew Smith | $95 | $81.85 | +166.1% | Jun 27, 2023 |
| Wells Fargo | Analyst unavailable | $88 | $82.9 | +146.5% | Jan 3, 2023 |
| UBS | Analyst unavailable | $85 | $83.93 | +138.1% | Dec 21, 2022 |
| RBC Capital | Nik Modi | $76 | $83.13 | +112.9% | Dec 21, 2022 |
| Morgan Stanley | Analyst unavailable | $73 | $84.02 | +104.5% | Dec 20, 2022 |
| Piper Sandler | Analyst unavailable | $95 | $87.33 | +166.1% | Dec 15, 2022 |
| BNP Paribas | Analyst unavailable | $90 | $77.06 | +152.1% | Nov 15, 2022 |
| Credit Suisse | Robert Moskow | $77 | $80.99 | +115.7% | Sep 22, 2022 |
| BMO Capital | Analyst unavailable | $85 | $80.58 | +138.1% | Sep 22, 2022 |
| Morgan Stanley | Analyst unavailable | $71 | $80.67 | +98.9% | Sep 22, 2022 |
| Credit Suisse | Robert Moskow | $81 | $79.72 | +126.9% | Sep 22, 2022 |
| Credit Suisse | Analyst unavailable | $77 | $80.48 | +115.7% | Sep 22, 2022 |
| Deutsche Bank | Analyst unavailable | $88 | $79.72 | +146.5% | Sep 22, 2022 |
| Piper Sandler | Michael Lavery | $88 | $79.72 | +146.5% | Sep 22, 2022 |
| Morgan Stanley | Pamela Kaufman | $66 | $75.01 | +84.8% | Sep 13, 2022 |
| RBC Capital | Analyst unavailable | $68 | $75.45 | +90.4% | Jul 1, 2022 |
| Deutsche Bank | Analyst unavailable | $81 | $74.64 | +126.9% | Jun 30, 2022 |
| Citigroup | Analyst unavailable | $88 | $74.72 | +146.5% | Jun 30, 2022 |
| BMO Capital | Analyst unavailable | $80 | $74.72 | +124.1% | Jun 30, 2022 |
| Piper Sandler | Analyst unavailable | $80 | $74.72 | +124.1% | Jun 30, 2022 |
| Stifel Nicolaus | Christopher Growe | $64 | $67.99 | +79.2% | Feb 27, 2022 |
| Credit Suisse | Robert Moskow | $68 | $68.18 | +90.4% | Jan 31, 2022 |
| Morgan Stanley | Pamela Kaufman | $56 | $68.03 | +56.8% | Jan 11, 2022 |
| Bank of America Securities | Bryan Spillane | $70 | $67.79 | +96.1% | Jan 5, 2022 |
| Citigroup | Wendy Nicholson | $73 | $64.73 | +104.5% | Dec 22, 2021 |
| Goldman Sachs | Jason English | $53 | $59.04 | +48.4% | Jun 30, 2021 |
Track every rating change on GIS the moment it posts. Free to start.
Start freeCompany 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.…
Historical context
All GIS earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
| DG Dollar General Corporation | FY2027 Q2 · Calendar Q3 2026 | +23.4% | +2.5% | Dollar General Raises FY2026 Outlook After Strong Q2 |
| DLTR Dollar Tree, Inc. | FY2027 Q2 · Calendar Q3 2026 | +134.8% | -3.9% | Dollar Tree: Strong Q2 execution, but guidance held steady |
Latest beats and misses
Who reports nextBeat on EPS
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
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Sources
- Earnings call transcript and parsed analysis · 2026-09-23T18:10:08.636253+00:00
- FN2 earnings calendar · 2026-09-23T01:23:14.597164+00:00
- Polygon adjusted daily market bars · 2026-09-23T18:10:54.872691+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T18:10:54.869994+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 · As of 2026-09-23. For educational purposes only; not investment advice.