General Mills posts $2B loss, targets $3B in cuts
General Mills reported a fourth-quarter net loss of just over $2 billion and said it will pursue $3 billion in cumulative cost cuts through fiscal 2030 to shore up margins.[1]
The loss worked out to $3.74 per share versus a $294 million profit a year earlier.[1] Q4 revenue rose 1% to $4.61 billion, slightly above analyst expectations, and adjusted earnings per share were $0.95, beating the $0.80 forecast.[1] For the full fiscal year, sales fell 5% to $18.4 billion, and the company said it expects slower-than-normal category growth in fiscal 2027.[1] Management is targeting $750 million of the $3 billion savings in the coming year.[1]
On March 17, 2026, General Mills announced a deal to sell its Brazil operations, including Yoki and Kitano, to 3corações for roughly $153 million as part of ongoing portfolio optimization. Prior divestitures included U.S. yogurt businesses. Fiscal 2025 results released June 25, 2025 showed net sales of $19.5 billion with organic sales down 2% amid lower volumes and price/mix pressure. Management has already pushed Holistic Margin Management cost programs and projected incremental savings for fiscal 2026 while grappling with softer consumer demand and input-cost inflation.
Analysts and traders noted much of the paper loss reflected noncash charges and impairments in the pet segment, and they said management has shifted emphasis to cost cuts and portfolio moves to try to restore margins. Some market watchers pointed out that General Mills nevertheless beat on adjusted EPS and revenue even as underlying retail volumes weakened.
The mainstream summary emphasizes General Mills' significant fourth-quarter loss and its plans for cost-cutting, but it does not address the underlying issues driving these decisions. Analysts have pointed out that the $1.75 billion impairment in the pet segment contradicts previous claims of stabilization, suggesting a more precarious financial situation than the summary implies. Furthermore, the summary overlooks the broader context of weakened consumer spending and the challenges faced by the consumer packaged goods sector, where companies like General Mills are compelled to implement aggressive cost-cutting measures to navigate a landscape of declining organic sales and increased price sensitivity among consumers. This context is crucial for understanding the strategic shifts within the company, as highlighted by recent analyses indicating that inflation and changing consumer behavior are forcing firms to reassess their operational efficiencies and cost structures.[2][3]
Show source details & analysis (1 source)
📊 Relevant Data
General Mills employed approximately 33,000 people worldwide as of fiscal 2025.
General Mills: Number of Employees 2012-2026 — Macrotrends
General Mills recorded approximately $3.45 billion in selling, general and administrative (SG&A) expenses in fiscal 2025.
General Mills SG&A Expenses 2012-2026 — Macrotrends
📌 Key Facts
- General Mills posted a Q4 2026 net loss of just over $2 billion, or $3.74 per share, versus a $294 million profit a year earlier.
- The company is targeting $3 billion in cumulative cost savings by fiscal 2030, including $750 million in the coming year.
- Full‑year fiscal 2026 sales were $18.4 billion, down 5% year‑over‑year, and General Mills expects slower‑than‑normal category growth in 2027.
- Q4 revenue rose 1% to $4.61 billion, slightly above analyst expectations of $4.59 billion, and adjusted EPS of 95 cents beat the 80‑cent forecast.
- Retail sales fell 4% and food‑service sales 1% in Q4, while pet sales rose 4% and international sales jumped 16%.
📰 Source Timeline (1)
Follow how coverage of this story developed over time