Mondelez (MDLZ) Tops Q4 EPS by 1c, Revenues Beat; Provides FY20 Growth Outlook

Mondelez (NASDAQ: MDLZ) reported Q4 EPS of $0.61, $0.01 better than the analyst estimate of $0.60. Revenue for the quarter came in at $6.91 billion versus the consensus estimate of $6.84 billion.

Fourth Quarter Highlights

• Net revenues increased 2.1% driven by Organic Net Revenue growth of 4.1% partially offset by unfavorable currency impacts
• Diluted EPS was $0.50, down 10.7%; Adjusted EPS was $0.61, flat on a constant-currency basis

"2019 was a major step forward for the company: Execution of our strategy, including investments in global and local brands, enabled us to deliver strong top-line performance and to meet or exceed all of our financial targets. We are increasingly confident that our incremental investments in brands and capabilities, emphasis on volume leverage and profit dollar growth will create a virtuous cycle that consistently delivers attractive top- and bottom- line growth and sustained free cash flow generation," said Dirk Van de Put, Chairman and CEO.

2020 Outlook

Mondelēz International provides guidance on a non-GAAP basis, as the company cannot predict some elements that are included in reported GAAP results, including the impact of foreign exchange. Refer to the Outlook section in the discussion of non-GAAP financial measures below for more details.

For 2020, the company expects performance in line with its long-term growth algorithm of 3+ percent Organic Net Revenue growth, high-single-digit percent Adjusted EPS growth on a constant-currency basis and Free Cash Flow of approximately $3 billion. For 2020, the company estimates currency translation would decrease net revenue growth by approximately 1 percent4 with no material impact to Adjusted EPS4.

For earnings history and earnings-related data on Mondelez (MDLZ) click here.

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