General Mills, Inc. (NYSE:GIS) Q2 2025 Earnings Conference Call December 18, 2024 9:00 AM ET

Company Participants

Jeff Siemon - Vice President, Investor Relations & Treasurer
Jeff Harmening - Chairman & Chief Executive Officer
Kofi Bruce - Chief Financial Officer
Jon Nudi - Group President, North America Pet, Foodservice & International
Dana McNabb - Group President, North America Retail

Conference Call Participants

Andrew Lazar - Barclays
Peter Galbo - Bank of America
Ken Goldman - JPMorgan
Leah Jordan - Goldman Sachs
Max Gumport - BNP Paribas
Chris Carey - Wells Fargo
Steve Powers - Deutsche Bank
Tom Palmer - Citi

Operator

Good morning, and welcome to General Mills' Second Quarter Fiscal 2025 Earnings Conference Call. All participants are in a listen-only mode. After the speakers' remarks, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the call over to Jeff Siemon, Vice President of Investor Relations and Treasurer. Thank you. Please go ahead.

Jeff Siemon

Hi, good morning, everyone, and thank you, Julianne. We appreciate you all joining us today for our Q&A session on our second quarter fiscal 2025 results. I hope you all had time to review our press release, listen to the 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. And so, please refer to this morning's press release for factors that could impact forward-looking statements, and for reconciliations of non-GAAP information, which we may discuss on today's call.

I'm joined this morning by Jeff Harmening, our Chairman and CEO; Kofi Bruce, our CFO; Dana McNabb, Group President of North America Retail; and Jon Nudi, Group President of our North America Pet, Foodservice and our International segments.

Before we open for questions, I'm going to hand it over to Jeff Harmening for a few opening remarks.

Jeff Harmening

All right. Thanks, Jeff. And as he said, before we get into Q&A and a more detailed business discussion, let me lay out kind of an overarching perspective. And if I go back to June, we laid out our plans for fiscal '25 and then we said our top priority for this year is to accelerate our organic sales growth and specifically our volume growth. And we do that by leveraging our remarkable experience framework to improve our market share. And through the first half of the year, we've executed that plan and we're seeing good results with broad-based improvements in our volume and our shared trends. And we've done that by stepping up our investment in the business above our original plans in response to a more prolonged and, I would say, significant value-seeking behaviors in the part of consumers. We're bringing more value to consumers across all aspects of our total product offering, including increased product renovation news, increased brand building and promotional support.