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There is no debating that stock market valuations are sky high right now. While the Federal Reserve hinted at rate cuts in September at its latest Federal Open Market Committee (FOMC) meeting, that doesn’t mean that stocks are setting up for new highs. Investors searching for safe stocks for a bear market should start their preparation now.As we get closer to the end of 2024, there are serious risks in the economy that the stock market is simply ignoring. Rising geopolitical tensions in the Middle East, tig ...

Mondelez International TodayMDLZMondelez International$68.31 -0.04 (-0.06%) 52-Week Range$60.75▼$77.20Dividend Yield2.49%P/E Ratio21.69Price Target$79.06Add to WatchlistWith sector rotation upon us, it is time for investors to take a more significant bite out of safe-haven names like Mondelez NASDAQ: MDLZ. The rotation is due to the recent inflation data and FOMC policy statement, which were sell-the-news events. They are sell-the-news events because they signal a shift in policy that will lead to easing ec ...

Mondelez International, Inc. (MDLZ) reported second-quarter 2024 results, wherein the bottom line beat the Zacks Consensus Estimate while the top line missed the same. Also, earnings improved year over year.Robust bottom-line results and free cash flow generation can be attributed to effective pricing strategies, efficient cost management and impressive momentum in emerging markets. Despite a challenging and dynamic operating environment, management remained focused on executing the long-term growth strateg ...

Mondelez International, Inc. MDLZ reported better-than-expected second-quarter adjusted EPS results and raised its dividend on Tuesday.Mondelez International reported quarterly earnings of 86 cents per share which beat the analyst consensus estimate of 79 cents per share. The company reported quarterly sales of $8.343 billion which missed the analyst consensus estimate of $8.454 billion.Mondelēz raised its quarterly dividend by 11% from 42.5 cents to 47 cents per share.“We continued to execute against our s ...

Financial Data and Key Metrics Changes - Organic net revenue grew by 2.5% in Q2 2024, with adjusted gross profit dollar growth of 11.3% and adjusted EPS increasing by 25% [7][20][26] - Free cash flow generation was strong, totaling $1.5 billion in the first half of the year, with an 11% increase in dividends announced [5][27] Business Line Data and Key Metrics Changes - Biscuits and baked snacks grew by 0.8% for the quarter, with brands like Oreo and Ritz gaining market share [21][23] - Chocolate segment grew by 5.6%, driven by strong performance in both developed and emerging markets, with Cadbury Dairy Milk and Milka showing significant growth [21][22] - Gum and candy grew by 2.9%, supported by momentum in key markets such as China and Brazil [22] Market Data and Key Metrics Changes - North America experienced a growth of 0.3%, with challenges in the biscuit category but improvements noted in brands like Chips Ahoy! [23][24] - Europe grew by 2.7%, with strong execution leading to share gains despite volume declines due to customer disruptions [23] - Emerging markets saw a revenue increase of 4.5%, with strong growth in China and Brazil, while India faced challenges due to food inflation [24][25] Company Strategy and Development Direction - The company is focused on long-term growth in chocolate, biscuits, and baked snacks, aiming for 90% of revenue from these core categories by 2030 [14][19] - A strategic partnership with Lotus Bakeries was announced to develop co-branded chocolate products and expand the biscuit business in India [18][19] - Continued investment in advertising and consumer engagement is emphasized, with innovative marketing campaigns planned for brands like Oreo [15][16] Management's Comments on Operating Environment and Future Outlook - Management noted a stabilizing consumer environment in North America, with inflation pressures easing and consumer confidence improving [32][33] - The outlook for Q3 and the second half of the year remains positive, with expectations for volume growth in Europe and North America [30][34] - Cocoa prices are anticipated to be a significant headwind in the second half, but the company is well-positioned to manage costs and maintain profitability [26][28] Other Important Information - The company is making progress on its sustainability agenda, aiming for net zero carbon by 2050, with a carbon-neutral biscuit manufacturing plant in China [17] - The ERP transition is being implemented over four years to minimize disruptions, with a focus on successful execution [40] Q&A Session Summary Question: Consumer situation in North America and need for price reset - Management indicated that while the category remains soft, it is stabilizing, and they do not foresee a full price reset but will focus on targeted promotions and smaller pack sizes [32][33] Question: Volume growth expectations and drivers - Management expects volume growth to return in Europe, driven by strong execution and upcoming consumer activities [34] Question: Impact of ERP transition - The ERP program will be rolled out in phases to minimize disruptions, with careful planning to ensure successful execution [40] Question: Long-term free cash flow guidance - Management indicated that free cash flow could exceed $4 billion on an ongoing basis, with current guidance at $3.5 billion for the year [42] Question: Cocoa pricing strategy - The company is securing cocoa positions for 2025 and expects a market correction, with a significant portion of their positions already covered [46][48] Question: Partnership with Biscoff - The partnership involves co-branding chocolate products and distributing Biscoff cookies in India, with potential for global expansion if successful [48]

Mondelez (MDLZ) reported $8.34 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.9%. EPS of $0.86 for the same period compares to $0.76 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $8.39 billion, representing a surprise of -0.59%. The company delivered an EPS surprise of +10.26%, with the consensus EPS estimate being $0.78.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how the ...

Mondelez (MDLZ) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.76 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.26%. A quarter ago, it was expected that this maker of Oreo cookies, Cadbury chocolate and Trident gum would post earnings of $0.88 per share when it actually produced earnings of $0.95, delivering a surprise of 7.95%. ...

Q2 2024 RESULTS July 30, 2024 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws. Words, and variations of words, such as "will," "may," "expect," "would," "could," "might," "intend," "plan," "believe," "likely," "estimate," "anticipate," "objective," "predict," "project," "drive," "seek," "aim," "target," "potential," "commitment," "outloo ...

Financial Performance - Net revenues decreased 1.9% to $8.3 billion in Q2 2024 and decreased 0.2% to $17.6 billion in the first six months of 2024 compared to the same periods in the prior year[134]. - Organic Net Revenue increased 2.5% to $8.6 billion in Q2 2024 and increased 3.4% to $18.0 billion in the first six months of 2024 compared to the same periods in the prior year[134]. - Diluted EPS attributable to Mondelēz International decreased 34.8% to $0.45 in Q2 2024 and decreased 32.3% to $1.49 in the first six months of 2024 compared to the same periods in the prior year[134]. - Adjusted EPS increased 19.4% to $0.86 in Q2 2024 and increased 15.9% to $1.82 in the first six months of 2024 compared to the same periods in the prior year[134]. - Net revenues decreased by $164 million (1.9%) to $8,343 million in Q2 2024, while Organic Net Revenue increased by $209 million (2.5%) to $8,559 million[139]. - The company experienced a net revenue decrease of 0.2% to $17.633 billion for the six months ended June 30, 2024, impacted by unfavorable currency-related items and the divestiture of the developed market gum business[149]. - The company’s diluted EPS attributable to Mondelēz International decreased to $1.49 for the six months ended June 30, 2024, down from $2.20 in the same period of 2023, reflecting a 32.3% decline[149]. Operating Income and Expenses - Operating income fell by $571 million (40.1%) to $854 million in Q2 2024 compared to $1,425 million in the same period last year[139]. - Adjusted Operating Income increased by $223 million (17.6%) to $1,492 million, with constant currency basis showing a $280 million (22.1%) increase[141]. - Total selling, general and administrative expenses increased by $22 million from Q2 2023, with a net increase of $79 million when excluding divestiture-related benefits, driven mainly by higher advertising and consumer promotion costs[144]. - Total selling, general and administrative expenses rose by $105 million compared to the first six months of 2023, with an underlying increase of $217 million driven by higher advertising and consumer promotion costs[156]. - Segment operating income for North America decreased by $35 million (6.1%) to $545 million for the three months ended June 30, 2024, compared to $580 million in the same period of 2023[163]. - Segment operating income for Europe increased by $185 million (19.4%) to $1,141 million for the six months ended June 30, 2024, compared to $956 million in the same period of 2023[179]. Currency and Commodity Impact - Unfavorable currency-related items impacted Organic Net Revenue by $216 million (2.6pp) in Q2 2024 and $348 million (2.0pp) in the first six months of 2024[124][125]. - Currency-related items negatively impacted net revenues by $216 million, primarily due to unfavorable currency translation rates[140]. - Currency-related items negatively impacted operating income by $57 million, primarily due to the strength of the U.S. dollar against various currencies[145]. - Unfavorable currency changes decreased operating income by $127 million, primarily due to the strength of the U.S. dollar against various currencies[157]. - The company anticipates facing higher cocoa costs in the near- and medium-term, with cocoa prices on the Intercontinental Exchange up 175% compared to the same day in the second quarter of 2023[201]. - The company utilizes hedging and pricing strategies to manage commodity cost fluctuations, although full protection against price increases may not be achievable[202]. Business Segments and Market Performance - The operations in Russia generated 2.9% of consolidated net revenue in Q2 2024, compared to 2.8% in Q2 2023[119]. - Emerging markets net revenues decreased by 1.4%, while Organic Net Revenue in emerging markets increased by 4.5%[140]. - Developed markets net revenues decreased by 2.3%, with Organic Net Revenue growth of 1.2%[140]. - Latin America net revenues increased by $4 million (0.3%) to $1,232 million for the three months ended June 30, 2024, driven by higher net pricing[165]. - The company experienced declines in chocolate, cheese & grocery, gum, candy, and refreshment beverages, partially offset by gains in biscuits & baked snacks[165]. Strategic Initiatives and Investments - The company approved funding of $1.2 billion for a multi-year ERP System Implementation program expected to be completed by year-end 2028[122]. - The Board of Directors approved funding of $1.2 billion for a multi-year ERP and supply chain systems transformation program, expected to be completed by year-end 2028[16]. - The company is engaged in discussions with the European Commission regarding an investigation into competition law practices[211]. Risk Management and Forward-Looking Statements - Key risks include macroeconomic weakness, commodity cost volatility, geopolitical uncertainty, and competition pressures[207]. - The company acknowledges that actual results may differ materially from forward-looking statements due to various risks and uncertainties[207]. - Future financial conditions and results are subject to change based on evolving risks and uncertainties, as detailed in SEC filings[207]. Non-GAAP Financial Measures - The company utilizes non-GAAP financial measures to provide additional insights into operating results and trends[208]. - "Organic Net Revenue" excludes impacts from acquisitions, divestitures, and currency fluctuations, reflecting underlying business growth[209]. - Adjusted Operating Income excludes costs related to restructuring, acquisitions, and other significant items for better comparability[209]. - Adjusted EPS is calculated excluding specific impacts such as losses on debt extinguishment and tax law changes, providing clearer performance insights[211]. - The company has begun excluding the impact of extreme pricing in Argentina from non-GAAP measures due to hyperinflation concerns[211].