General Mills reports $2.1B operating loss on $1.8B pet business impairments, $1B Brazil write-down

Filed July 1, 2026 · Period ending July 1, 2026 · ~1 min read

Key Changes

• high

  Recorded $1.5B goodwill impairment on North America Pet unit and $250M brand impairments (Nudges, True Chews) due to increased discount rates from macroeconomic uncertainty.

  Exhibit 99 verify on EDGAR →
• high

  Took $1.0B non-cash loss on planned Brazil business divestiture, reflecting write-down to expected sale proceeds.

  Exhibit 99 verify on EDGAR →
• high

  Q4 operating loss of $2.1B driven by impairments; adjusted operating profit up 13% in constant currency to $705M. Full-year adjusted EPS down 16% to $3.55.

  Exhibit 99 verify on EDGAR →