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Company research2 Apr 2024
The Consumer Goods Sector: Housing the World's Most Known Brands
Explore the giants of the consumer goods sector, where iconic brands familiar in daily life are predominantly owned by a few key industry players.
Mondelez International
Mondelez International (MDLZ) investor relations material
Mondelez International Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Q3 net revenue rose 2.3% to $9.967B; organic net revenue grew 2.1%, led by volume/mix growth of 1.8 percentage points.
Adjusted EPS was $0.78, up 5.5% at constant currency; improving volume and share trends supported continued investment in brands and innovation.
FY2026 outlook was maintained; strong EPS growth remained expected in FY2027 despite inflationary headwinds and a cautious consumer.
Financial highlights
Q3 adjusted gross profit rose 14.0% and adjusted operating income rose 17.0% at constant currency; adjusted operating margin expanded 1.9 percentage points to 13.9%.
Q3 reported operating income increased 136.3% to $1.758B, largely reflecting favorable derivative mark-to-market comparisons; adjusted operating income was $1.384B.
Q3 net earnings attributable to shareholders increased 75.6% to $1.305B; reported diluted EPS was $1.02, versus adjusted EPS of $0.78.
9M adjusted operating income declined 3.7% at constant currency and adjusted EPS fell 4.1% at constant currency to $2.18.
9M operating cash flow was $2.606B and free cash flow was $1.659B, versus $2.117B and $1.236B, respectively, a year earlier.
Outlook and guidance
FY2026 outlook maintained: organic net revenue growth of at least 2%, adjusted EPS growth flat to +5% at constant currency, and free cash flow of ~$3B.
FY2026 assumptions included high-single-digit inflation as a share of COGS, a mid-20s adjusted effective tax rate, and share repurchases up to $2B.
Currency translation was estimated to add 1.5 percentage points to FY2026 net revenue growth and $0.04 to adjusted EPS.
Strong FY2027 EPS growth was expected, supported by volume-led growth, emerging-market strength, greater European stabilization and productivity savings; 2027 sales guidance was deferred.
Inflation in freight, dairy, oil and packaging was expected, with productivity and other levers positioned to offset cost pressure.
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Latest events from Mondelez International
- FY23 organic growth reached 14.7%; FY24 guidance is 3%–5%.MDLZ
Q4 2023 - Growth is fueled by resilient categories, innovation, and major brand relaunches through 2027.MDLZBarclays 19th Annual Global Consumer Conference
- Q2 2026 net revenues up 4.1%, EPS surged, and full-year growth outlook raised to at least 2%.MDLZQ2 2026
- Q1 2026 revenue up 8.2%, organic growth 3.0%, but adjusted EPS down 14.9% on cocoa costs.MDLZQ1 2026
- Revenue rose 5.8% but profit fell on cocoa costs; 2026 outlook remains cautious.MDLZQ4 2025
- Q3 revenue up 5.9%, but margins and EPS fell sharply amid record cocoa inflation.MDLZQ3 2025
- Q2 2025 revenue rose 7.7%, but adjusted EPS fell 14.5% on cocoa cost pressures.MDLZQ2 2025
- Organic net revenue and adjusted EPS rose, but reported results fell on one-time items.MDLZQ2 2024
- 2025 adjusted EPS is expected to decline 10% despite solid organic growth, driven by cocoa inflation.MDLZQ4 2024
Next Mondelez International earnings date
Q4 202626 Jan, 2027
Mondelez International
Next Mondelez International earnings date
Q4 202626 Jan, 2027
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Frequently asked questions
Leading Snack Producers
Mondelez International is an American multinational confectionery, food, and beverage conglomerate. Established in 2012 following a spin-off from Kraft Foods, Mondelez operates in over 150 countries and owns a plethora of iconic brands. With a vast portfolio of snacks and treats, the company is positioned as a global leader in the snack industry. The company is headquartered in Chicago, Illinois, and is listed on the Nasdaq.
The Spin-Off
Mondelez International's roots trace back to the foundation of many legacy companies, but its most immediate predecessor is Kraft Foods. The name "Mondelez" is derived from two words: "monde" from the Latin word for "world," and "delez" as an expression of "delicious." In 2012, in a strategic move to separate its global snack business from its North American grocery operations, Kraft Foods Inc. spun off its North American grocery business into a new company, Kraft Foods Group, and renamed the remaining global snacks business Mondelez International. This decision aimed to enable each entity to focus more keenly on their respective markets.
The Brands
Mondelez International is a global powerhouse in the snack industry, boasting a portfolio of iconic brands. Among its most recognizable brands are the chocolate producers Cadbury, LU, Milka, and Toblerone and the well-known Oreo cookie. Beyond these, Mondelez also owns Nabisco, the name behind classics like Ritz crackers and Chips Ahoy! cookies. Trident, one of the world's leading chewing gum brands, and Tang, a popular powdered beverage, further demonstrate the company's diverse portfolio. This is merely a snapshot of Mondelez’s brands, and their ownership of companies goes much further than what has been mentioned above.
A Global Market
Mondelez International has an expansive global presence, operating in over 150 countries. As one of the world's leading snack companies, its products can be found on shelves in nearly all corners of the world. This is however not something unique for the industry Mondelez is active in, and some of their main publicly traded competitors include names like Nestle, PepsiCo, Unilever, and other similar companies.