Company Updates Full-year Fiscal 2026 Outlook Amid Challenging Consumer Environment

General Mills, Inc. (NYSE:GIS) will share an update on the company's Accelerate strategy and key initiatives at today's Consumer Analyst Group of New York (CAGNY) Conference. Chairman and Chief Executive Officer Jeff Harmening, Chief Financial Officer Kofi Bruce, and Group President of North America Retail and North America Pet Dana McNabb will outline plans to drive sustainable growth by delivering greater remarkability through the company's global brands.

Updated Fiscal 2026 Financial Outlook

While the company is making meaningful progress in strengthening its remarkability to position the business for long-term sustainable growth, this progress has come amid a more challenging backdrop. Weak consumer sentiment, heightened uncertainty, and significant volatility have weighed on category growth and impacted consumer purchase patterns, resulting in a slower pace and higher cost of volume recovery than initially expected. Based on its revised expectations, the company is updating its full-year fiscal 2026 financial outlook1:

• Organic net sales are now expected to be down 1.5 to 2 percent, compared to the previous range of down 1 percent to up 1 percent.
• Adjusted operating profit and adjusted diluted EPS are now expected to be down 16 to 20 percent in constant currency, compared to the previous range of down 10 to 15 percent in constant currency.
• Free cash flow conversion is still expected to be at least 95 percent of adjusted after-tax earnings.