General Mills (NYSE: GIS) reported Q4 EPS of $1.01, $0.01 better than the analyst estimate of $1.00. Revenue for the quarter came in at $4.71 billion versus the consensus estimate of $4.86 billion.

Fiscal 2025 Outlook

Amid a continued uncertain macroeconomic backdrop for consumers across its core markets, General Mills expects volume trends in its categories will gradually improve in fiscal 2025, though full-year category dollar growth is expected to be below the company’s long-term growth projections. The company expects to accelerate its organic net sales growth by delivering remarkable experiences across its leading food brands, resulting in improved household penetration and stronger market share trends versus the prior year. Its fiscal 2025 plans call for product news and innovation focused on taste, health, convenience, and value, supported with strong brand campaigns and omnichannel visibility. The company expects to generate HMM cost savings of roughly 4 to 5 percent of cost of goods sold, which is expected to exceed its anticipated input cost inflation of 3 to 4 percent of cost of goods sold. Additionally, it expects to reinvest potential margin flexibility back into the business, including plans for a significant increase in brand-building investment in fiscal 2025 to drive improved volume performance.

With these assumptions in mind, General Mills outlined its full-year financial targets for fiscal 2025²:

• Organic net sales are expected to range between flat and up 1 percent.
• Adjusted operating profit is expected to range between down 2 percent and flat in constant currency from the base of $3.6 billion reported in fiscal 2024, including a 2-point headwind from resetting incentive compensation after a below-average payout in the prior year.
• Adjusted diluted EPS is expected to range between down 1 percent and up 1 percent in constant currency from the base of $4.52 earned in fiscal 2024.
• Free cash flow conversion is expected to be at least 95 percent of adjusted after-tax earnings.

For earnings history and earnings-related data on General Mills (GIS) click here.