WHAT TO WATCH FOR: An update on costs.

General Mills and other food makers continue to struggle with high ingredient and energy costs and have raised prices to offset that.

General Mills has seen its revenue climb on these increased prices, as well as solid consumer demand and new products. Its profitability did suffer some last quarter due to these costs, and it remains to be seen how the food maker will fare this period.

The company stands to benefit from the addition of more Yoplait business. The company, which already distributed Yoplait products in the U.S., acquired a controlling stake in the company in July. This will be the first full fiscal quarter with the expanded brand power under its ownership.

WHY IT MATTERS: General Mills is one of the nation's largest food makers, and its decisions impact millions of consumers at the grocery store. The Minneapolis company's performance provides some insight into the issues facing the food industry as a whole as well.

WHAT'S EXPECTED: Analysts polled by FactSet, on average, expect General Mills to earn 79 cents per share on revenue of $4.6 billion

LAST YEAR'S QUARTER: General Mills earned $613.9 million, or 92 cents per share, on revenue of $4.07 billion. Adjusting for a tax benefit and the effects of mark-to-mark accounting, it earned 76 cents per share.