Mondelez International ( (MDLZ) ) has realeased its Q3 earnings. Here is a breakdown of the information Mondelez International presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Mondelez International, Inc. is a leading global snacks company, known for producing iconic brands such as Oreo, Cadbury, and Toblerone, operating primarily in the packaged foods industry.
In its third quarter of 2024, Mondelez International reported a notable increase in organic net revenue by 5.4%, and a significant rise in adjusted earnings per share on a constant currency basis by 28.6%. The company has also announced a strategic acquisition of a majority stake in Evirth, a cakes and pastries manufacturer in China.
Key financial highlights from the quarter include a 1.9% increase in net revenues, despite a decline in diluted earnings per share by 12.5% to $0.63. The company managed to achieve a year-to-date cash flow from operating activities of $3.5 billion, and returned $2.9 billion to shareholders through dividends and share repurchases. Additionally, gross profit margins and operating income margins showed strength when adjusted for currency impacts and divestitures.
Despite some challenges, Mondelez continues to focus on expanding its capabilities and distribution, emphasizing its commitment to brand reinvestment and maintaining cost discipline. The strategic move to acquire Evirth highlights its aim to enhance its portfolio in the growing cakes and pastries segment.
Looking ahead, Mondelez reaffirms its expectations for organic net revenue growth to reach the upper end of 3 to 5 percent, alongside high single-digit adjusted EPS growth. The company maintains a positive outlook for 2024, with anticipated free cash flow exceeding $3.5 billion, despite potential currency translation impacts.
