Mondelez Announces Impressive Third Quarter Earnings

Mondelez International, a leader in the snack industry, announced exceptional growth in its third-quarter results on November 1, 2023, showcasing the company’s enduring market presence and effective strategies. 

Dirk Van de Put, the Chairman and CEO, highlighted the robustness of the company’s product categories and brand strength across various regions, contributing to impressive revenue and profitability growth.

The third quarter of 2023 was marked by a notable 16.3% increase in net revenues, largely driven by an Organic Net Revenue growth of 15.7%. 

This growth was bolstered by a significant 3.8 percentage point improvement in Volume/Mix, indicating a positive trend across all regions. These results underscore the effectiveness of Mondelez’s business strategies and its ability to adapt to market demands.

In terms of earnings, the company reported a substantial rise in Diluted EPS (Earnings per Share) at $0.72, an 84.6% increase. The Adjusted EPS also grew by 16.7% on a constant currency basis, reaching $0.82. This financial upswing reflects Mondelez’s operational efficiency and strong market positioning.

Further strengthening its financial status, Mondelez’s cash flow from operations reached $3.2 Billion year-to-date, with a Free Cash Flow of $2.4 Billion, which is an increase of $0.5 Billion compared to the previous year. 

The company also demonstrated its commitment to shareholders, returning $2.2 Billion in the year’s first nine months.

This quarter, a significant strategic move for Mondelez was the successful divestiture of its developed market gum business, generating $1.4 Billion. This decision aligns with the company’s focus on prioritizing high-growth areas and optimizing its portfolio for sustained growth.

Mondelez Future Outlook

Looking forward, Mondelez has raised its Organic Net Revenue outlook to between 14% and 15% and its Adjusted EPS growth outlook to approximately 16%. This optimistic forecast is a testament to the company’s confidence in its business model and future prospects.

As Mondelez continues to innovate and grow, we invite our readers to explore our extensive and ever-expanding range of Mondelez snack brands, including the iconic Oreo and many others, reflecting our commitment to offering exceptional and varied snack options.