Filing Flows › General Mills (GIS) › Q2 FY26
General Mills (GIS) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Dec 17, 2025
General Mills (GIS) reported revenue of $4.9B for the second quarter fiscal 2026 (Q2 FY26), -7% from a year earlier and +8% from the quarter before. Operating margin was 15.0%, net earnings $413M (8.5% of revenue).
General Mills, Q2 FY26: revenue $4.9B (-7% year over year), operating margin 15.0%, net earnings $413M, operating cash flow $819M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.9B | +8% | -7% |
| Gross profit | $1.7B | +10% | -12% |
| Operating profit | $728M | -58% | -32% |
| Net earnings | $413M | -66% | -48% |
| Operating cash flow | $819M | +106% | -29% |
| Free cash flow | $676M | +135% | -32% |
What changed
Revenue was $4.9B in Q2 FY26, down 7% year over year and up 8% from the previous quarter. Snacks was the largest line at 21% of revenue. Cereal lost $0.04B year over year (down 5%), 10% of the total change.
Gross margin was 34.8%, down 2.0 points from a year earlier. Operating profit was $0.73B, a 15.0% margin (down 5.6 points year over year). Operating expenses grew 13% against a revenue fall of 7%. Net earnings were $0.41B, down 48% year over year. The effective tax rate was 25.8%.
Operating cash flow was $0.82B (down 29% year over year), 198% 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 added $0.24B. Capital expenditures of $0.14B left free cash flow of $0.68B.
Questions
What was General Mills' revenue in the second quarter fiscal 2026?
General Mills (GIS) reported revenue of $4.9B for the second quarter fiscal 2026 (Q2 FY26), -7% from a year earlier and +8% from the quarter before.
Was General Mills profitable in the second quarter fiscal 2026?
Operating profit was $728M (15.0% of revenue) and net earnings $413M.
Source: General Mills 10-Q on SEC EDGAR.