General Mills, Inc. (NYSE:GIS) Q3 2025 Results Prepared Remarks March 19, 2025 8:00 AM ET
Company Participants
Jeff Siemon – Vice President, Investor Relations and Corporate Finance
Jeff Harmening – Chairman and Chief Executive Officer
Kofi Bruce – Chief Financial Officer
Jeff Siemon
Good morning. This is Jeff Siemon, Vice President of Investor Relations and Corporate Finance. Thank you for listening to General Mills’ prepared remarks for our Fiscal 2025 Third Quarter Earnings. Later this morning we will hold a separate, live question-and-answer session on today’s results, which you can hear via webcast on our investor relations website. Joining me for this morning’s presentation are Jeff Harmening, our Chairman and CEO; and Kofi Bruce, our CFO.
Before I hand things over to them, let me first touch on a few housekeeping items. First, on our website, you will find our press release that posted this morning, along with a copy of the presentation and a transcript of these remarks. Please note that, today’s remarks include forward-looking statements that are based on management’s current views and assumptions. The second slide in today’s presentation lists several factors that could cause our future results to be different than our current estimates.
And with that, I’ll turn it over to Jeff.
Jeff Harmening
Thank you, Jeff, and good morning, everyone.
Let me start with today’s key messages. Our Q3 results finished below our expectations, driven largely by greater-than-expected retailer inventory headwinds and a slowdown in snacking categories, two developments we initially called out at the CAGNY conference last month. We’ve continued to improve our market share trends across our Pet, Foodservice, and International businesses, with each segment posting positive pound share results in the third quarter. We delivered improved performance in U.S. Refrigerated Dough and Hot Snacks, two businesses where we made incremental investments last quarter, though our share in other snacks categories was more
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