Mondelez (MDLZ) Tops Q1 EPS by 6c

Mondelez (NASDAQ: MDLZ) reported Q1 EPS of $0.95, $0.06 better than the analyst estimate of $0.89. Revenue for the quarter came in at $9.29 billion versus the consensus estimate of $9.17 billion.

2024 Outlook:

Mondelēz International provides its outlook 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 2024, the company expects Organic Net Revenue growth of 3 to 5 percent, high single-digit Adjusted EPS growth on a constant currency basis based on 2023 Adjusted EPS incl. developed market gum1. The company expects for 2024 Free Cash Flow of $3.5+ billion. The company estimates currency translation would decrease 2024 net revenue growth by approximately 1.5 percent3 with a negative $0.10 impact to Adjusted EPS3.

Outlook is provided in the context of greater than usual volatility as a result of geopolitical uncertainty.

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

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