General Mills Stock (NYSE:GIS) Underperforming Ahead of Earnings – What To Expect

General Mills stock (NYSE: GIS) is currently trading at $47.00 per share ahead of this morning's earnings report, finely positioned into the print. The stock's performance reflects markets' apprehension heading into the company's upcoming earnings release, with a 2.87% gain on the past week moving GIS off lows, although firmly underperforming YTD (-26%).

The food giant is slated to report earnings before the opening bell, with the Street expecting an EPS of $1.03 for the current quarter. This figure represents a significant decline on the $1.40 EPS delivered this time last year, accounting for some of the decline in the stock. 

Revenue is also expected to have declined on a Y/Y basis, down 8.74% at $4.78 billion. The company does have a history of beating expectations however, with each of the past four EPS prints coming in above the consensus.

Analysts will be closely scrutinizing General Mills' revenue figures, seeking to understand the impact of recent product launches and broader consumer spending trends. The anticipated EPS decline has also cast a shadow over the stock, contributing to its recent underperformance.

The stock's technical indicators unsurprisingly paint a bearish picture. GIS is currently trading below both its 50-day Simple Moving Average (SMA) of $47.34 and its 200-day SMA of $52.03, although a break to the upside of the 50 day SMA could be on the cards with a strong print, and solid guidance.

Options data indicates an expected near-term price range of $45.18 to $48.58. This range encapsulates the potential magnitude of price movement that the market foresees in the wake of the earnings release.

In July, General Mills launched Totino's Ultimate Pizza, a premium frozen pizza line available in Extra Cheese, Uncured Pepperoni, and Loaded Combination flavors. Initially exclusive to Walmart, it subsequently expanded nationwide. The success, or lack thereof, of this launch will be under scrutiny.

In the same month, the company introduced Progresso Pitmaster Soups, a BBQ-inspired soup line with five flavors, each containing 14g or more of protein per can. This product aimed to capture the consumer desire for convenient, protein-rich meal options.

The “Cereal Training Camp Campaign,” launched in August 2025, featured NFL wide receivers Justin Jefferson, Ja'Marr Chase, and Amon-Ra St. Brown. This marketing effort aimed to boost cereal sales through limited-edition boxes and a new custom cereal mix. Investors will be eager to learn if this campaign translated into tangible sales growth.

The success of these product innovations is crucial for General Mills to offset broader challenges, such as rising input costs and evolving consumer preferences. The earnings call will provide an opportunity for management to address these issues and outline strategies for sustained growth.

Analysts will be particularly interested in General Mills' forward guidance for the next quarter and the full fiscal year. Any revisions to previous guidance could significantly impact investor sentiment and the stock's valuation.

The company's ability to manage its supply chain and control costs will be another key area of focus. Rising inflation and supply chain disruptions have posed challenges for many food companies, and General Mills' performance in these areas will be closely watched.

Furthermore, investors will be keen to hear about General Mills' plans for capital allocation, including potential share repurchases, dividend increases, or acquisitions. These decisions can have a significant impact on shareholder value.