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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.
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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