General Mills Q1 profit falls 63% to $634M as year-ago yogurt gain laps; EPS $0.74

Filed September 23, 2026 · Period ending August 30, 2026 · Compared to 10-Q Sep 17, 2025 · ~1 min read

Key Changes

• high

  Operating profit fell 63% to $634 million, largely because last year's quarter included a $1.05 billion gain on the yogurt divestiture; excluding that item, operating income declined $37.8 million.

  MD&A: Operating profit verify on EDGAR →
• high

  The company recorded a $1.75 billion non-cash impairment in Q4 FY26, including $1.5 billion for North America Pet goodwill and $250 million for brand intangibles, plus a $53 million Uncle Toby's charge.

  MD&A: Impairments verify on EDGAR →
• high

  Fiscal 2027 guidance expects at least $750 million in savings, but also 9 points of operating profit and 11 points of EPS headwinds from lapping the 53rd week, incentive normalization, and divestitures.

  MD&A: Outlook verify on EDGAR →