Leadership Changes - Volker Kuhn appointed as Executive Vice President and President, Europe, effective April 1, 2025, reporting directly to Chair and CEO Dirk Van de Put [1] - Kuhn replaces Vinzenz Gruber, who is retiring effective April 1, 2025 [1] - Kuhn will join Mondelēz on January 6, 2025, to ensure a smooth transition with Gruber [1] Volker Kuhn's Background - Kuhn joins from Reckitt's hygiene business, where he delivered top- and bottom-line performance acceleration through innovation and category growth [2] - Previously served as Reckitt's Chief Transformation Officer [2] - Spent 26 years at Procter & Gamble, leading growth accelerations, turnarounds, and business transformations across multiple regions [3] - Led the successful carve-out and divestiture of Duracell from P&G to Berkshire Hathaway [3] - Expertise spans consumer products categories, including 10 years leading Pringles Snacks division in Europe [3] CEO's Perspective - Dirk Van de Put highlights Kuhn's international consumer packaged goods experience and leadership impact as key to accelerating growth in Europe [4] - Kuhn's role will focus on strengthening consumer loyalty to Mondelēz's iconic brands [4] Acknowledgment of Outgoing Leader - Van de Put thanks Vinzenz Gruber for his leadership in advancing core brands like Cadbury, Milka, and Oreo across Europe [5] - Gruber's tenure saw expansion into snack bars, cakes, and pastries, setting the business up for continued growth [5] Company Overview - Mondelēz International operates in over 150 countries with 2023 net revenues of approximately $36 billion [6] - Leading the future of snacking with iconic brands such as Oreo, Cadbury Dairy Milk, Milka, and Toblerone [6] - Member of the S&P 500, Nasdaq 100, and Dow Jones Sustainability Index [6]

Mondelez International, Inc. (MDLZ) is currently trading at a forward 12-month price-to-earnings (P/E) ratio of 19, higher than the industry average of 15.94. This inflated valuation suggests that the market is pricing in high growth expectations, but it also raises questions about whether the company can deliver results that justify such a premium. Shares of Mondelez have tumbled 9.4% in the past three months compared with the industry’s decline of 4.4%. This global snack food company trailed the broader Z ...

Mondelez International Inc (NASDAQ: MDLZ ) has good growth prospects ahead. The company’s revenue growth should benefit from additional price increases planned in the coming year. In addition, year-over-year organic growth comparisons are also becoming easier as we move intoWe focus on GARP (Growth at reasonable Price) opportunities in industrial, consumer, and technology sectors. We are among the top 50 financial experts (Out of ~39,000 tracked) as measured by Tipranks based on the consistency of our stock ...

Hi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am completing my studies. My interest in financial markets started about 5 years ago when I accidentally came across a video about trading. That was the spark that introduced me to a new world, but over time I realized that it was not my path: too many charts, lines, and not very concrete concepts for a pragmatic person like me. I needed something different ...

Mondelez International, Inc. (MDLZ) reported impressive third-quarter 2024 results, with the top and bottom lines beating the Zacks Consensus Estimate and increasing year over year.Adjusted earnings were 99 cents per share, which increased 28.6% on a constant-currency (cc) basis. The metric also surpassed the Zacks Consensus Estimate of earnings of 85 cents per share. The upside was backed by solid operating gains, reduced interest expenses and taxes, as well as a lower number of shares outstanding.Find the ...

For the quarter ended September 2024, Mondelez (MDLZ) reported revenue of $9.2 billion, up 1.9% over the same period last year. EPS came in at $0.99, compared to $0.82 in the year-ago quarter.The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $9.07 billion. With the consensus EPS estimate being $0.85, the EPS surprise was +16.47%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expec ...

Mondelez International, Inc. (NASDAQ:MDLZ) Q3 2024 Earnings Call Transcript October 29, 2024 5:00 PM ET Company Participants Shep Dunlap - SVP, IR Dirk Van de Put - Chairman and CEO Luca Zaramella - CFO Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan John Baumgartner - Mizuho Securities David Palmer - Evercore ISI Peter Galbo - Bank of America Chris Carey - Wells Fargo Securities Tom Palmer - Citi Operator Good day, and welcome to the Mondelez International Third Quarter 2024 Ear ...

Mondelez (MDLZ) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.82 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 16.47%. A quarter ago, it was expected that this maker of Oreo cookies, Cadbury chocolate and Trident gum would post earnings of $0.78 per share when it actually produced earnings of $0.86, delivering a surprise of 10.26% ...

Q3 2024 RESULTS October 29, 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," "out ...

Business Overview - The company's core business includes chocolate, biscuits, baked snacks, gum & candy, cheese & grocery, and powdered beverages globally[120] - The company aims to be the global leader in snacking by focusing on consumer-centric growth, operational excellence, culture, and sustainable snacking[121] Financial Performance - Net revenues increased 1.9% to $9.2 billion in Q3 2024 and 0.5% to $26.8 billion in the first nine months of 2024, driven by higher net pricing and favorable volume mix, partially offset by divestiture impacts and unfavorable currency-related items[144] - Organic Net Revenue, a non-GAAP measure, increased 5.4% to $9.3 billion in Q3 2024 and 4.0% to $27.3 billion in the first nine months of 2024, driven by higher net pricing and favorable volume/mix[144] - Diluted EPS decreased 12.5% to $0.63 in Q3 2024 and 27.4% to $2.12 in the first nine months of 2024, impacted by mark-to-market losses, higher intangible asset impairment charges, and ERP system implementation costs[144] - Adjusted EPS, a non-GAAP measure, increased 28.6% to $0.99 in Q3 2024 and 19.1% to $2.80 in the first nine months of 2024, driven by operating gains, fewer shares outstanding, and lower interest expense[144] - Emerging markets net revenues increased 0.1% in Q3 2024, while Organic Net Revenue in emerging markets grew 4.9%, driven by higher net pricing[148] - Developed markets net revenues increased 3.1% in Q3 2024, while Organic Net Revenue in developed markets grew 5.6%, driven by higher net pricing and favorable volume/mix[148] - Net earnings attributable to Mondelēz International decreased 13.3% to $853 million in Q3 2024, driven by lower operating income and higher impairment charges[148] - Net revenues increased by $135 million (0.5%) to $26,837 million in the first nine months of 2024 compared to $26,702 million in the same period of 2023[160] - Net earnings attributable to Mondelēz International decreased by $1,143 million (28.5%) to $2,866 million in the first nine months of 2024 compared to $4,009 million in the same period of 2023[160] - Organic Net Revenue increased by 4.0% driven by higher net pricing, partially offset by unfavorable volume/mix[161] - Net revenue increased by 0.5% despite a $483 million reduction due to the 2023 divestiture of the developed market gum business[161] - Currency-related items decreased net revenues by $468 million due to unfavorable currency translation rate changes[161] - Adjusted Operating Income increased by $709 million (16.8%) on a constant currency basis[162] - Higher net pricing contributed $1,417 million to Adjusted Operating Income, partially offset by higher input costs of $190 million[163] - Selling, general and administrative expenses increased by $270 million, driven by higher advertising and consumer promotion costs[165] - Operating income margin increased from 16.1% in 2023 to 17.6% in 2024, driven by higher Adjusted Operating Income margin[167] - Adjusted Operating Income margin increased from 16.1% in 2023 to 18.4% in 2024, primarily due to higher net pricing and lower manufacturing costs[167] - Unfavorable currency changes decreased operating income by $143 million, primarily due to the strength of the U.S. dollar[166] - The short-term distributor agreement added incremental net revenues of $25 million for the first nine months of 2024[161] - Diluted EPS attributable to Mondelēz International decreased by $0.80 (27.4%) to $2.12 for the nine months ended September 30, 2024, compared to $2.92 in the same period in 2023[169] - Adjusted EPS (constant currency) increased by $0.54 (23.0%) to $2.89 for the nine months ended September 30, 2024, driven by a $0.47 increase in operations and a $0.05 change in shares outstanding[169] Regional Performance - The company's operations in Ukraine and Russia generated 0.4% and 2.9% of consolidated net revenue in Q3 2024, respectively[125] - Net revenues for Latin America decreased by $101 million (7.7%) for the three months ended September 30, 2024, primarily due to unfavorable currency-related items (9.7 pp) and unfavorable volume/mix (3.9 pp)[176] - Segment operating income for Latin America decreased by $31 million (19.9%) for the three months ended September 30, 2024, primarily due to higher raw material costs and unfavorable currency-related items[177] - Net revenues for AMEA increased by $60 million (3.4%) to $1.851 billion for the three months ended September 30, 2024, compared to $1.791 billion in the same period in 2023[180] - Segment operating income for AMEA increased by $33 million (10.9%) to $335 million for the three months ended September 30, 2024, compared to $302 million in the same period in 2023[180] - Net revenues for Europe increased by $237 million (7.7%) to $3.323 billion for the three months ended September 30, 2024, compared to $3.086 billion in the same period in 2023[174] - Segment operating income for Europe increased by $111 million (22.5%) to $605 million for the three months ended September 30, 2024, compared to $494 million in the same period in 2023[174] - Net revenues for North America decreased by $21 million (0.7%) to $2.826 billion for the three months ended September 30, 2024, compared to $2.847 billion in the same period in 2023[174] - Segment operating income for North America increased by $386 million (72.6%) to $918 million for the three months ended September 30, 2024, compared to $532 million in the same period in 2023[174] - Net revenues increased by $60 million (3.4%) for the three months ended September 30, driven by higher net pricing (5.1 pp) and favorable volume/mix (0.7 pp), partially offset by unfavorable currency translation rate changes (2.4 pp)[181] - Segment operating income increased by $33 million (10.9%) for the three months ended September 30, primarily due to higher net pricing and lower manufacturing costs, partially offset by higher advertising and raw material costs[182] - Net revenues increased by $49 million (0.9%) for the nine months ended September 30, driven by higher net pricing (5.8 pp), mostly offset by unfavorable currency translation rate changes (4.5 pp) and unfavorable volume/mix (0.4 pp)[183] - Segment operating income increased by $167 million (19.2%) for the nine months ended September 30, primarily due to higher net pricing and lower manufacturing costs, partially offset by higher raw material costs and unfavorable currency translation rate changes[184] - Net revenues in Europe increased by $237 million (7.7%) for the three months ended September 30, driven by higher net pricing (7.6 pp), favorable currency translation rate changes (1.7 pp), and favorable volume/mix (0.5 pp), partially offset by divestitures (2.1 pp)[186] - Segment operating income in Europe increased by $111 million (22.5%) for the three months ended September 30, primarily due to higher net pricing, favorable volume/mix, and lower divestiture-related costs[187] - Net revenues in North America decreased by $21 million (0.7%) for the three months ended September 30, due to divestitures (4.3 pp) and unfavorable currency translation rate changes (0.1 pp), partially offset by higher net pricing (2.0 pp) and favorable volume/mix (1.7 pp)[191] - Segment operating income in North America increased by $386 million (72.6%) for the three months ended September 30, primarily due to a favorable contingent consideration adjustment and lower acquisition integration costs[192] Cost and Expense Management - The company faces higher operating costs due to inflationary pressures, supply constraints, and rising cocoa costs, with cocoa prices significantly higher year-over-year[122] - Higher cocoa, sugar, nuts, and other ingredient costs drove the increase in aggregate commodity costs in the first nine months of 2024, partially offset by lower energy, dairy, edible oils, grains, and packaging costs[212] - The company expects higher cocoa costs in the near- and medium-term due to international supply chain and labor market disruptions[214] - The company uses hedging, higher pricing, and manufacturing and overhead cost control to address higher commodity costs and currency impacts[215] - The company's commodity procurement practices aim to mitigate price volatility but may limit the ability to benefit from future price decreases[215] - Total selling, general and administrative expenses decreased by $389 million in Q3 2024 compared to Q3 2023[154] - Selling, general and administrative expenses increased by $270 million, driven by higher advertising and consumer promotion costs[165] Strategic Initiatives and Investments - The company approved $1.2 billion for a multi-year ERP and supply chain systems upgrade, with expected completion by year-end 2028[128] - The company announced the acquisition of a majority stake in Evirth (Shanghai) Industrial Co., Ltd, a leading cake and pastry manufacturer in China[133] - The company sold its remaining 85.9 million shares in JDE Peet's for approximately €2.2 billion ($2.4 billion), expected to complete in Q4 2024[137] - The company expects 2024 capital expenditures to be up to $1.5 billion, primarily for modernizing manufacturing facilities and supporting productivity initiatives[200] - ERP System Implementation program approved with $1.2 billion funding, expected to complete by year-end 2028, with majority operating expenses excluded from non-GAAP measures[225] Non-GAAP Measures and Adjustments - The company excluded extreme pricing in Argentina (over 26% year-over-year) from non-GAAP financial measures starting Q1 2024[129] - Adjusted EPS excludes extreme pricing impact in Argentina due to a 26% year-over-year devaluation of the Argentinean peso, effective Q1 2024[223] - Divestitures include JDE Peet's ownership reductions, reflected in non-GAAP results the following quarter[223] - Non-GAAP measures exclude unrealized gains/losses from commodity and currency derivatives until exposures impact operating results[223] - Incremental costs related to the Russia-Ukraine war, including asset impairments and uncollectible accounts, are excluded from operating results[223] - European Commission legal matter resolved with payment obligation fulfilled in August 2024, excluded from non-GAAP measures[225] - Pension participation changes and multiemployer plan withdrawals excluded from non-GAAP results[225] - Acquisition-related costs, including transaction fees and ESOP buyouts, excluded from non-GAAP measures[223] - Integration costs and contingent consideration adjustments for acquisitions excluded from non-GAAP measures[223] - Highly inflationary accounting impacts for Argentina and Türkiye excluded from non-GAAP measures[223] Debt and Capital Structure - Total debt as of September 30, 2024 was $19.8 billion, compared to $19.4 billion as of December 31, 2023, with a debt-to-capitalization ratio of 0.42 and 0.41 respectively[209] - The weighted-average term of outstanding long-term debt was 7.9 years as of September 30, 2024[209] - Average daily commercial paper borrowings outstanding were $1.0 billion in the first nine months of 2024, down from $2.7 billion in the same period of 2023[209] - The company paid dividends of $1,722 million in the first nine months of 2024, compared to $1,581 million in the same period in 2023[204] Market and Commodity Trends - Cocoa bean prices on the Intercontinental Exchange in London were 79% higher on the last trading day of Q3 2024 compared to the same day in Q3 2023[214] - The company expects ongoing volatility in snacks revenue growth but remains optimistic about future growth[123] Operational Metrics - Operations held by MIHN generated 72.8% ($19.5 billion) of the $26.8 billion consolidated net revenue for the nine months ended September 30, 2024[210] - Operations held by MIHN represented 82.8% ($23.1 billion) of the $27.9 billion net assets as of September 30, 2024[210]