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Jun 30, 2024
Mondelez Q2 2024 Earnings Report
Mondelēz International's Q2 2024 performance was marked by a decrease in net revenues, offset by organic net revenue growth and significant progress in adjusted EPS.
Key Takeaways
Mondelēz International reported a decrease in net revenues by 1.9%, but organic net revenue grew by 2.5%. Diluted EPS decreased by 34.8% to $0.45, while adjusted EPS increased by 25.0% on a constant currency basis to $0.86. The company's cash flow generation remained strong, and it increased its quarterly dividend by 11%.
Net revenues decreased by 1.9%, while Organic Net Revenue grew by 2.5%.
Diluted EPS decreased by 34.8% to $0.45, but Adjusted EPS increased by 25.0% on a constant currency basis to $0.86.
Cash provided by operating activities increased to $2.1 billion year-to-date, and Free Cash Flow was $1.5 billion.
The company announced an 11% increase to its 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 expects Organic Net Revenue growth to be at the upper end of 3 to 5 percent and high single-digit Adjusted EPS growth on a constant currency basis. The company expects 2024 Free Cash Flow of $3.5+ billion.
Positive Outlook
- Organic Net Revenue growth expected at the upper end of 3 to 5 percent.
- High single-digit Adjusted EPS growth on a constant currency basis is anticipated.
- Free Cash Flow is projected to be $3.5+ billion.
- Completion of European pricing actions.
- Addition of new value offerings in the U.S.
Challenges Ahead
- Currency translation would decrease 2024 net revenue growth by approximately 1.5 percent.
- Currency translation is expected to negatively impact Adjusted EPS by $0.09.
- Outlook is provided in the context of greater than usual volatility due to geopolitical uncertainty.
- Weakness in macroeconomic conditions in key markets.
- Volatility of commodity and other input costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income