General Mills (GIS) Stock News

General Mills elected Dana McNabb as CEO effective January 1, 2027. She will receive a base salary of $1,350,000 and an annual cash incentive target of 180% of base salary. Jeff Harmening will become Executive Chair.

Deutsche Bank reiterated General Mills at Hold. Price target raised to $34 from $33.

General Mills turnaround progressing slowly, Q1 sales beat estimates.

General Mills COO Dana McNabb said 40% of consumers used an AI tool to make a food purchase in the last month, and the company estimates agentic commerce will account for 20% of food sales by 2030. The company is working to ensure its products are accurately represented and easy to find in AI-driven shopping. The comments came during a WSJ live coverage event.

General Mills beats quarterly estimates, reaffirms outlook; stock falls 1.6%.

GIS Q1: Net sales $4.4B (est. $4.35B), adj EPS $0.75 (est. $0.72), organic net sales flat. Reaffirms FY guide: adj EPS $3.00-$3.20. Shares flat premarket.

General Mills provided an update on its turnaround plan, targeting $750 million in savings this year. CEO Jeff Harmening said the company is modernizing operations and retooling the supply chain. COO Dana McNabb noted new product launches addressing health and bold flavors, along with increased marketing investment including new agency partners, a content studio, and doubled influencer use. The company sees early progress and expects strong results.

General Mills announced it has removed artificial colors from all its cereals sold in the United States. The change applies across the full cereal portfolio.

General Mills said today that all of its U.S. products are now made without certified colors. The company did not disclose cost or sales impact.