Filing Flows › General Mills (GIS) › Q1 FY26
General Mills (GIS) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Sep 17, 2025
General Mills (GIS) reported revenue of $4.5B for the first quarter fiscal 2026 (Q1 FY26), -7% from a year earlier and -0.8% from the quarter before. Operating margin was 38.2%, net earnings $1.2B (26.7% of revenue).
General Mills, Q1 FY26: revenue $4.5B (-7% year over year), operating margin 38.2%, net earnings $1.2B, operating cash flow $397M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.5B | -0.8% | -7% |
| Gross profit | $1.5B | +4% | -9% |
| Operating profit | $1.7B | +242% | +108% |
| Net earnings | $1.2B | +310% | +108% |
| Operating cash flow | $397M | -35% | -36% |
| Free cash flow | $288M | -27% | -41% |
What changed
Revenue was $4.5B in Q1 FY26, down 7% year over year and down 1% from the previous quarter. Snacks was the largest line at 23% of revenue. Yogurt lost $0.27B year over year (down 73%), 82% of the total change.
Gross margin was 33.9%, down 0.9 points from a year earlier. Operating profit was $1.7B, a 38.2% margin (up 21.1 points year over year). Net earnings were $1.2B, up 108% year over year. The effective tax rate was 25.4%.
Operating cash flow was $0.40B (down 36% year over year), 33% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $1.0B. Capital expenditures of $0.11B left free cash flow of $0.29B.
Questions
What was General Mills' revenue in the first quarter fiscal 2026?
General Mills (GIS) reported revenue of $4.5B for the first quarter fiscal 2026 (Q1 FY26), -7% from a year earlier and -0.8% from the quarter before.
Was General Mills profitable in the first quarter fiscal 2026?
Operating profit was $1.7B (38.2% of revenue) and net earnings $1.2B.
Source: General Mills 10-Q on SEC EDGAR.