General Mills : Third Quarter 2025 Presentation
GIS
Fiscal 2025
Q3 Earnings
March 19, 2025
General Mills Third-quarter Fiscal 2025
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A Reminder on Forward-looking Statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. In particular, our predictions about future net sales and earnings could be affected by a variety of factors, including: imposed and threatened tariffs by the United States and its trading partners; disruptions or inefficiencies in the supply chain; competitive dynamics in the consumer foods industry and the markets for our products, including new product introductions, advertising activities, pricing actions, and promotional activities of our competitors; economic conditions, including changes in inflation rates, interest rates, tax rates, tariffs, or the availability of capital; product development and innovation; consumer acceptance of new products and product improvements; consumer reaction to pricing actions and changes in promotion levels; acquisitions or dispositions of businesses or assets; changes in capital structure; changes in the legal and regulatory environment, including tax legislation, imposition of tariffs, labeling and advertising regulations, and litigation; impairments in the carrying value of goodwill, other intangible assets, or other long-lived assets, or changes in the useful lives of other intangible assets; changes in accounting standards and the impact of significant accounting estimates; product quality and safety issues, including recalls and product liability; changes in consumer demand for our products; effectiveness of advertising, marketing, and promotional programs; changes in consumer behavior, trends, and preferences, including weight loss trends; consumer perception of health-related issues, including obesity; consolidation in the retail environment; changes in purchasing and inventory levels of significant customers; fluctuations in the cost and availability of supply chain resources, including raw materials, packaging, energy, and transportation; effectiveness of restructuring and cost saving initiatives; volatility in the market value of derivatives used to manage price risk for certain commodities; benefit plan expenses due to changes in plan asset values and discount rates used to determine plan liabilities; failure or breach of our information technology systems; foreign economic conditions, including currency rate fluctuations and tariffs; and political unrest in foreign markets and economic uncertainty due to terrorism or war. The company undertakes no obligation to publicly revise any forward-looking statement to reflect any future events or circumstances.
General Mills Third-quarter Fiscal 2025
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Jeff Harmening
Chairman and Chief Executive Officer
General Mills Third-quarter Fiscal 2025
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Today's Key Messages
General Mills Third-quarter Fiscal 2025
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Third-quarter and YTD Fiscal 2025 Performance
F25 Q3
F25 YTD
Actual
Actual
Organic
-5%
-1%
Net Sales¹
Adjusted
-13%
-3%
Op.
Profit²
Adjusted
-15%
-1%
Diluted
EPS²
Source: NIQ and Circana SupplyTrack, latest available 13 weeks
Headwinds in F25 Q3
General Mills Third-quarter Fiscal 2025
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Status Update on Fiscal 2025 Priorities
1 Accelerate Organic Sales
Improve Competitiveness by Delivering Remarkable Experiences Across Our Portfolio
2
Create Fuel
for Investment
Generate HMM Cost Savings to Offset Inflation and Accelerate Brand Investment
3
Drive Strong
Cash Generation
Continue Robust Cash Conversion and Capital Allocation Discipline
General Mills Third-quarter Fiscal 2025
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F25 Priority
1
Remarkable Experience Framework
Superior Product
Package
Design
Brand
Communication
Omnichannel
Execution
Compelling
Value
Consumers' Brand of Choice
General Mills Third-quarter Fiscal 2025
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F25 Priority
1
Improved U.S. Refrigerated Dough Trends in Q3
Improving
Expanding
Accelerating Cookie
Increasing Brand
Value
Product News
Momentum
Building
General Mills U.S. Refrigerated Dough Retail Pound Volume
(% vs. LY)
10%
1%
-6%
-2%
-2%
-3%
-2%
F24
F25 Q1
F25 Sep
F25 Oct
F25
F25 Jan
F25 Feb
Nov/Dec
Source: NIQ xAOC
General Mills Third-quarter Fiscal 2025
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F25 Priority
1
Improved U.S. Hot Snacks Trends in Q3
Communicating
Activating
Improving
Affordability
Merchandising Plans
Shelf Execution
General Mills U.S. Hot Snacks Retail Pound Volume
(% vs. LY)
3%
-2%
-2%
-3%
-10%-7%
-6%
F24
F25 Q1
F25 Sep
F25 Oct
F25
F25 Jan
F25 Feb
Nov/Dec
Source: NIQ xAOC
General Mills Third-quarter Fiscal 2025
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F25 Priority
1
Strong Plans Expected to Improve Momentum on U.S. Cereal in Q4
Delivering Great-tasting & Affordable Protein Cereals
Leveraging
Increasing
Brand Partnerships
Media Investment
Exceeding Expectations on
Partnering with Retailers to
Q4 Media +DD% vs. LY
Cheerios Protein and
Execute Q4 On-pack Promotion
Nature Valley Protein Granola
Across Core Cereal Brands
Fantastic Four equity licensed from Marvel Studios, LLC
General Mills Third-quarter Fiscal 2025
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Disclaimer
General Mills Inc. published this content on March 19, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 19, 2025 at 11:18:06.556.