General Mills reported Q4 2024 US dollar results that reflect ongoing top-line softness vs. year-ago levels, with revenue of $4.7139 billion down 8.3% year over year and down 7.6% quarter over quarter. Gross profit was $1.6883 billion (gross margin 35.8%), while operating income reached $0.7792 billion and net income $0.5575 billion, translating to an EPS of $0.98. Annualized free cash flow stood at $575.2 million, supporting a dividend payout of 60.2% and a sizable share repurchase program ($400.8 million) during the period. Management commentary on the call (not available in the provided transcript) typically emphasizes pricing actions, portfolio discipline, and productivity initiatives, which are key to sustaining margins in a competitive environment. The balance sheet shows a total debt load of $13.315 billion with net debt around $12.897 billion and a cash balance of $418 million, yielding a leveraged but cash-generative profile. Liquidity metrics are modest near-term (current ratio 0.65; quick ratio 0.38), but robust operating cash flow and free cash flow underpin ongoing capital allocation to dividends and buybacks. Looking ahead, absent explicit quarterly guidance, the company’s path depends on input-cost dynamics, price realization, and mix shifts toward higher-margin categories and growth platforms (notably pet food and snacks) while managing leverage and balance sheet flexibility.