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Sentiment · FY2026 Q4
Revenue declined 8.4% as the investment year continued with remarkability investments building penetration and share momentum across the portfolio. Profit was severely pressured by reinvestment spending, divestiture timing, and supply chain disruptions from weather events. Q4 profit recovery anchored on trade timing reversal and the 53rd week, while a Totino's price pack architecture misstep created drag in hot snacks. FY2026 guidance was reaffirmed with implied Q4 organic sales growth.
Competitive Dynamics | Revenue Growth | Demand | Pricing | Margin | Product Launch | Innovation & R&D | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2025Q3 | 5 | 5 | 3 | 4 | 3 | 2 | 2 | 1 |
| 2025Q4 | 3 | 5 | 3 | 4 | 3 | 6 | 2 | |
| 2026Q1 | 4 | 4 | 4 | 3 | 1 | 2 | 5 | 1 |
| 2026Q2 | 8 | 5 | 6 | 6 | 5 | 2 | 3 | |
| 2026Q3 | 5 | 5 | 4 | 3 | 4 | 3 | 1 | 2 |
| '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | |
|---|---|---|---|---|---|
| Competitive Dynamics | 5 | 3 | 4 | 8 | 5 |
| Revenue Growth | 5 | 5 | 4 | 5 | 5 |
| Demand | 3 | 3 | 4 | 6 | 4 |
| Pricing | 4 | 4 | 3 | 6 | 3 |
| Margin | 3 | 3 | 1 | 5 | 4 |
| Product Launch | 2 | 6 | 2 | 2 | 3 |
| Innovation & R&D | 2 | 2 | 5 | 1 | |
| Cost Pressure | 1 | 1 | 3 | 2 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Michael Lavery | Piper Sandler | 8 (13%) |
| Andrew Lazar | Barclays | 8 (13%) |
| Dave Palmer | Evercore ISI |
| Peter Galbo | Bank of America | 8 (25%) |
| Max Gumport | BNP Paribas | 7 (29%) |
| Chris Carey | Wells Fargo | 6 (17%) |
| Leah Jordan | Goldman Sachs | 5 (0%) |
| Alexia Howard | Bernstein | 5 (20%) |
| Rob Moskow | TD Cowen | 4 (50%) |
| Matt Smith | Stifel | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 1 | 8 (25%) |
| Evercore ISI | 1 | 8 (0%) |
| Piper Sandler | 1 | 8 (13%) |
| Barclays | 1 | 8 (13%) |
| BNP Paribas | 1 | 7 (29%) |
| JPMorgan | 2 | 6 (17%) |
| Wells Fargo | 1 | 6 (17%) |
| Goldman Sachs | 1 | 5 (0%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2025 Q1 | $4.85B | -1.2% | $1.03 | -9.6% | 34.8% | 17.2% | 12.0% | $484M |
| FY2025 Q2 | $5.24B | +2.0% | $1.42 | +39.2% | 36.9% | 20.6% | 15.2% | $990M |
| FY2025 Q3 | $4.84B | -5.0% | $1.12 | -4.3% | 33.9% | 18.4% | 12.9% | $428M |
| FY2025 Q4 | $4.56B | -3.3% | $0.52 | -46.9% | 32.4% | 11.1% | 6.5% | $391M |
| FY2026 Q1 | $4.52B | -6.8% | $2.22 | +115.5% | 33.9% | 38.2% | 26.7% | $288M |
| FY2026 Q2 | $4.86B | -7.2% | $0.78 | -45.1% | 34.8% | 15.0% | 8.5% | $676M |
| FY2026 Q3 | $4.44B | -8.4% | $0.56 | -50.0% | 30.6% | 11.8% | 6.8% | $296M |
| FY2026 Q4 | $4.61B | +1.2% | $-3.74 | -819.2% | 34.2% | -45.4% | -43.6% | $368M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
GIS General Mills | 4 | -8.4% | |
| CAG Conagra Brands | 5 | -1.9% | |
| CPB Campbell Soup Company | 1 | -4.5% | |
| HRL Hormel Foods | 6 | +1.3% | |
| KHC Kraft Heinz | 4 | +0.8% | |
| MKC McCormick & Company | 6 | +16.7% | |
| SJM J.M. Smucker Company (The) | 5 | +7.0% |