Company: General Mills, Inc.
Ticker: GIS
Form: 10-K
Filed: 2025-06-26
Fiscal Period: {"fp": "FY", "fy_curr": 2025, "fy_prev": 2024}

Question: By what percentage did General Mills, Inc.'s operating income change from fiscal year 2024 to fiscal year 2025?
Question Type: temporal_comparison

Concept: OperatingIncomeLoss
Answer (Numeric): -3.7
Answer (Display): -3.70%
Unit: percent_change

Evidence:
[{"chunk_id": "61", "equivalent_chunk_ids": ["61"], "section": "ITEM 7 - Management’s Discussion and Analysis of", "supports": ["current", "previous"], "text": "by approximately 5 points in fiscal 2026.\nBased on these assumptions, our key full-year fiscal 2026 targets\nare summarized below:\nOrganic net sales are expected to range between down 1 percent and\nup 1 percent.\nAdjusted operating profit\nis expected to\nbe down 10\nto 15 percent in\nconstant currency from\nthe base of\n$3.4 billion reported\nin fiscal 2025.\nAdjusted diluted\nEPS is\nexpected\nto be\ndown 10\nto 15\npercent in\nconstant currency\nfrom the\nbase of\n$4.21 earned\nin fiscal\n2025.\nFree cash flow conversion is expected to be at least 95 percent of adjusted after-tax\nearnings.\nSee the “Non-GAAP Measures” section below for a description of our\nuse of measures not defined by GAAP.\nCertain terms used throughout this report are defined in a glossary in Item\n8 of this report.\nFISCAL 2025 CONSOLIDATED\nRESULTS\nOF OPERATIONS\nIn\nfiscal\n2025,\nnet\nsales\nand\norganic\nnet\nsales\ndecreased\npercent\ncompared\nto\nfiscal\n2024.\nOperating\nprofit\nof\n$3,305\nmillion\ndecreased\npercent\ncompared\nto\nfiscal\n2024,\nprimarily\ndriven\nby\nunfavorable\nnet\nprice\nrealization\nand\nmix,\nan\nincrease\nin\nselling,\ngeneral,\nand\nadministrative\n(SG&A)\nexpenses,\nlegal\nand\nvoluntary\nrecall\nnet\nrecoveries\nrecorded\nin\nfiscal\n2024,\ndecrease\nin\ncontributions from\nvolume growth, higher\nrestructuring and transformation\ncharges, higher\nacquisition and divestiture\ntransaction and\nintegration\ncosts, and\nan unfavorable\nchange in\nthe mark\n-to-market\nvaluation\nof\ncertain commodity\npositions\nand\ngrain\ninventories.\nThese impacts were\npartially offset by\nimpairment charges recorded\nin fiscal 2024,\na divestiture gain related\nto the sale of\nour Canada\nyogurt\nbusiness\nin\nfiscal\n2025,\nand\nlower\ninput\ncosts.\nOperating\nprofit\nmargin\nof\n17.0\npercent\ndecreased\nbasis\npoints.\nAdjusted\noperating\nprofit\nof\n$3,353\nmillion\ndecreased\npercent\non\nconstant-currency\nbasis,\nprimarily\ndriven\nby\nunfavorable\nnet\nprice\nrealization\nand\nmix,\nan\nincrease in\nSG&A\nexpenses,\nand\na decrease\nin\ncontributions\nfrom volume\ngrowth,\npartially\noffset\nby\nlower\ninput costs. Adjusted\noperating profit margin\ndecreased 90 basis\npoints to 17.2\npercent. Diluted earnings\nper share of\n$4.10 decreased\n5 percent compared\nto fiscal 2024.\nAdjusted diluted earnings\nper share of\n$4.21 decreased 7\npercent on a\nconstant-currency basis (see\nthe “Non-GAAP Measures” section below for a description of our use of measures\nnot defined by GAAP).\nA summary of our consolidated financial results for fiscal 2025 follows:\nFiscal 2025\nIn millions,\nexcept per\nshare\nFiscal 2025 vs.\nFiscal 2024\nPercent of Net\nSales\nConstant-\nCurrency\nGrowth (a)\nNet sales\n19,486.6"}]

Derivation: {"current_value": 3304.8, "op": "pct_change", "previous_value": 3431.7}