# General Mills' net earnings fell 67%, on a $1,054.4m gain a year ago

![General Mills' net earnings fell 67%, on a $1,054.4m gain a year ago](https://aiswingx.com/static/covers/gis-divestiture-gain-fy27q1_cover.jpg?v=1790455231)

**First-quarter fiscal 2027 10-Q: the divestitures gain line was $1,054.4m a year earlier and is nil this quarter. Take that line out of both quarters and the decline looks very different**

General Mills, Inc. (GIS) reported net earnings of $397.0m for the first quarter of fiscal 2027, down 67.0% from $1,204.2m a year earlier. On the same income statement the divestitures gain line was $1,054.4m a year ago and is nil this quarter. That figure is larger than the $807.2m by which net earnings fell.

- 종목: GIS (General Mills, Inc.)
- 분기: 2027Q1 · 10-Q
- 작성: 2026-09-26 20:24 UTC · 업데이트: 2026-09-26 21:21 UTC
- 원문: https://aiswingx.com/p/gis-divestiture-gain-fy27q1

## 숫자 하나
First-quarter fiscal 2027 net earnings of $397.0m against $1,204.2m a year earlier, down 67.0%. The prior-year income statement carried a $1,054.4m divestitures gain, most of it the $1,046.5m pre-tax gain on selling the US yoghurt business. Excluding that line, operating profit went from $671.4m to $633.6m, down 5.6%.

## 비유 하나
(구독자 전용)

## 출처 하나
General Mills, Inc. Form 10-Q (first quarter of fiscal 2027, ended 30 August 2026, filed 2026-09-23, accession 0001628280-26-063201): the Divestitures gain line on the consolidated statements of earnings; Note 2 Divestitures (the US yoghurt sale and the Brazil held-for-sale classification); the consolidated balance sheets; the consolidated statements of cash flows. Quarterly figures cross-checked against SEC XBRL Company Facts.

## 다음 분기에 볼 것
(구독자 전용)

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## What happened

General Mills, Inc. (GIS) makes food — cereal, yoghurt, pet food. Its first quarter of fiscal 2027 ended on 30 August 2026, and the 10-Q was filed on 23 September 2026.

One line disappeared from the consolidated statement of earnings, and one figure became a third of what it was.

| Item | Q1 FY2026 | Q1 FY2027 |
|---|---|---|
| **Divestitures gain** | **$1,054.4m** | **nil** |
| **Net earnings** | $1,204.2m | **$397.0m** |

Net earnings fell **$807.2m (−67.0%)**. The divestitures gain that is no longer there, **$1,054.4m**, is larger than that decline.

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## FAQ

**Q. Profit fell to a third — is that a serious problem?**

It depends which line produced the fall. The subscriber section places both quarters' income statements side by side, line by line.

**Q. What was that prior-year amount?**

The notes state which business was sold, to whom, and the gain recorded. The subscriber section reproduces it.

**Q. What happens if you take that line out?**

The subscriber section recalculates both quarters on the same basis and puts them in a table.

**Q. How did the underlying business do?**

The movement in net sales, cost of sales and administrative expense, and in inventories and receivables, is set out in the subscriber section.

**Q. Where can I check this myself?**

On SEC EDGAR, open General Mills, Inc.'s first-quarter fiscal 2027 Form 10-Q (accession 0001628280-26-063201) and read the income statement and Note 2.