General Mills, Inc. (NYSE:GIS) Q3 2024 Earnings Conference Call March 20, 2024 9:00 AM ET

Company Participants

Jeff Siemon - Vice President of Investor Relations and Treasurer
Jeffrey Harmening - Chairman and Chief Executive Officer
Kofi Bruce - Chief Financial Officer

Conference Call Participants

Andrew Lazar - Barclays
Ken Goldman - JPMorgan
Max Gumport - BNP Paribas
Chris Carey - Wells Fargo
Rob Dickerson - Jefferies
Jacob Aiken-Phillips - TD Cowen
David Palmer - Evercore ISI
Pamela Kaufman - Morgan Stanley
John Baumgartner - Mizuho Securities

Operator

Good morning. My name is Audra and I will be your conference operator today. At this time I would like to welcome everyone to the General Mills Third Quarter and Fiscal Year 2024 Earnings Call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]

At this time, I would like to turn the conference over to Jeff Siemon, Vice President of Investor Relations and Treasurer. Please go ahead.

Jeff Siemon

Thank you, Audra, and good morning to everyone. Thank you for joining us this morning for our Q&A session on our third quarter fiscal 2024 results. I hope everyone had time to review the press release, listen to our prepared remarks, and view our presentation materials, which we made available this morning on our Investor Relations website.

It's important to note that in our Q&A session, we may make forward-looking statements that are based on management's 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 may be discussed on today's call.

I'm here this morning with Jeffrey Harmening, our Chairman and CEO; and Kofi Bruce, our CFO. Let's go ahead and get right to the first question. So, Audra, if you can get us started, please.

Question-and-Answer Session

Operator

[Operator Instructions] We'll go next, oh sorry, we'll go first to Andrew Lazar at Barclays.

Andrew Lazar

Great, thanks very much. Good morning, everybody.

Jeffrey Harmening

Good morning, Andrew.

Andrew Lazar

Hi there. Jeff, in the prepared remarks you mentioned the expected impact in the fourth quarter in terms of reported results from the lapping of the trade expense benefit last year. If we put that aside, which sort of seems like more mechanical. How do we think about momentum for the company in the fourth quarter in terms of what you'd expect in terms of in-market performance and consumption right as the company looks to really build momentum going into fiscal ‘25? Would you expect sort of an acceleration from what we saw in fiscal 3Q or something similar to 4Q?