General Mills
Q1 2023 Earnings Call
Sep 21, 2022, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Greetings, and welcome to the General Mills first quarter fiscal 2023 earnings Q&A webcast. [Operator instructions] As a reminder, this conference is being recorded Wednesday, September 21, 2022. I would now like to turn the conference over to Jeff Siemon, VP of investor relations. Please go ahead.
Jeff Siemon -- Vice President, Investor Relations
Thank you, Kelly, and good morning, everyone. We appreciate you joining us today for a Q&A session on our first quarter fiscal '23 results. I hope everyone had a time to review our press release and listen to our prepared remarks and view the presentation materials, which were made available this morning on our IR website. It's important to note that in our Q&A session, we may make forward-looking statements that are based on our current views and assumptions.
Please refer to this morning's press release for factors that could impact forward-looking statements and for reconciliations of non-GAAP information, which maybe discussed on today's call. I am here with Jeff Harmening, our chairman and CEO; Kofi Bruce, our CFO; and Jon Nudi, group president of our North America retail segment. Let's go ahead and get right to the first question. Kelly, can you please get us started?
Questions & Answers:
Operator
[Operator instructions] And our first question comes from Andrew Lazar with Barclays. You may proceed with your question.
Andrew Lazar -- Barclays -- Analyst
Thank you. Good morning, everybody.
Kofi Bruce -- Chief Financial Officer
Good morning.
Jeff Harmening -- Chairman and Chief Executive Officer
Good morning, Andrew.
Andrew Lazar -- Barclays -- Analyst
Maybe to start off, I think the area that diverged from expectations the most in the quarter was certainly on gross margin, which actually expanded modestly year over year. I was hoping you could provide a bit more detail on sort of the drivers of this performance. And maybe more importantly, how do you see the sustainability and sequential cadence of margin performance through the remainder of the year?
Kofi Bruce -- Chief Financial Officer
Sure, Andrew. This is Kofi. I would just note we are pleased with the start on margins for Q1. The primary driver, just as we think about kind of where we are, the HMM cost savings plus benefits from price/mix, offset inflation, deleverage and our other sort of operating costs we have taken on in this environment to show modest expansion in the quarter.