General Mills (NYSE:GIS) posted stronger-than-expected second-quarter results on Wednesday, overcoming notable pressure from recent portfolio changes, including the divestment of its yogurt operations. The company reported adjusted earnings of $1.10 per share, ahead of analyst expectations of $1.02.

Following the earnings release, General Mills shares rose 1.17%.

For the quarter ended November 23, net sales reached $4.9 billion, exceeding market forecasts of $4.78 billion, although revenue declined 7% compared with the same period last year. The year-on-year decrease reflected a six-percentage-point impact from divestitures and acquisitions, largely tied to the sale of the North American yogurt business. Organic net sales fell 1% over the period.

“Our team continued to execute exceptionally well in a volatile operating environment, delivering results ahead of our expectations in the second quarter,” said General Mills Chairman and CEO Jeff Harmening. “Our investments in remarkability are working, helping restore organic volume growth in North America Retail this quarter and driving strong competitiveness across each of our segments.”

Adjusted operating profit declined 20% on a constant-currency basis to $848 million, while the adjusted operating margin fell by 290 basis points to 17.4%. The North America Retail division, the company’s largest revenue contributor, recorded a 13% drop in net sales, including a ten-percentage-point headwind from the yogurt divestiture.

Performance was stronger in other areas of the business. The North America Pet segment delivered 11% growth in net sales, supported by the acquisition of North American Whitebridge Pet Brands. Meanwhile, the International segment achieved 6% net sales growth, driven by solid results in Brazil, China, India and North Asia.

General Mills reiterated its full-year fiscal 2026 guidance, maintaining expectations for organic net sales growth ranging from a 1% decline to a 1% increase. The company continues to forecast a 10% to 15% decrease in both adjusted operating profit and adjusted diluted earnings per share on a constant-currency basis.

The group also reaffirmed its commitment to its “Remarkable Experience Framework” strategy, which emphasizes innovation, packaging improvements, brand messaging, omnichannel execution and enhanced consumer value as key drivers of sustainable long-term growth.

General Mills stock price

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