General Mills’ fiscal 2027 outlook and first-quarter results anchor trader views on Q2 organic net sales growth. Management reaffirmed a full-year range of -1.5% to +0.5%, after Q1 organic sales came in flat, with North America Retail declining 3% while Foodservice and International each rose 4%. Persistent input-cost inflation, expected to reach 6% by Q4, and a still-challenging consumer environment weigh on volumes, offset by $750 million in targeted cost savings and brand “remarkability” investments aimed at lifting innovation and share trends. The tight split between the -1.5% to 0% and 0% to 1.5% buckets reflects uncertainty over whether sequential retail improvement will materialize before year-end or if divestiture headwinds and margin pressure will keep results toward the lower end of guidance.