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Jun 30, 2023
Mondelez Q2 2023 Earnings Report
Mondelez International's Q2 2023 results demonstrated broad-based strength across the business, with strong, profitable top-line growth in all regions and categories.
Key Takeaways
Mondelez International reported a strong second quarter in 2023, with net revenues increasing by 17.0% and Organic Net Revenue growth of 15.8%. The company is raising its Organic Net Revenue and Adjusted EPS growth outlook to 12%+
Net revenues increased +17.0% driven by Organic Net Revenue growth of +15.8% with strong Volume/Mix performance in 3 of 4 regions
Diluted EPS was $0.69, up 27.8%; Adjusted EPS was $0.76, up +21.5% on a constant currency basis
Year-to-date cash provided by operating activities was $2.0 billion; Free Cash Flow was $1.5 billion
Announcing +10% increase to quarterly dividend
Mondelez
Mondelez
Mondelez Revenue by Geographic Location
Revenue by Geographic Location
Latin America Revenue
CapyFin.comAMEA Revenue
CapyFin.comEurope Revenue
CapyFin.comNorth America Revenue
CapyFin.comEmerging Markets Revenue
CapyFin.comDeveloped Markets Revenue
CapyFin.com Forward Guidance
Mondelēz International is updating its 2023 fiscal outlook and now expects 12%+ percent Organic Net Revenue growth versus the prior outlook of 10+ percent, which reflects the strength of its year-to-date performance. The company's expectation for Adjusted EPS growth on a constant currency basis is now 12%+ percent versus the prior outlook of 10+ percent. The company's Free Cash Flow outlook remains at $3.3+ billion.
Positive Outlook
- Raising Organic Net Revenue growth outlook to 12%+
- Raising Adjusted EPS growth outlook to 12%+
- Free Cash Flow outlook remains at $3.3+ billion
- Strong year-to-date performance
- Category resilience provides confidence
Challenges Ahead
- Currency translation would decrease 2023 net revenue growth by approximately 2%
- Currency translation has a negative $0.11 impact to Adjusted EPS
- Outlook is provided in the context of greater than usual volatility as a result of COVID-19
- Geopolitical uncertainty
- Unpredictability of future changes in currency exchange rates
Revenue & Expenses
Visualization of income flow from segment revenue to net income