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Sep 30, 2024
Mondelez Q3 2024 Earnings Report
Mondelez International reported robust Q3 2024 results, with accelerated top-line growth, strong earnings, and attractive cash flow generation.
Key Takeaways
Mondelez International reported a 1.9% increase in net revenues, driven by a 5.4% growth in Organic Net Revenue. Adjusted EPS on a constant currency basis increased by 28.6% to $0.99. The company reaffirmed its Organic Net Revenue growth outlook to be at the upper end of 3 to 5 percent and high single-digit Adjusted EPS growth on a constant currency basis for 2024.
Net revenues increased +1.9%, with Organic Net Revenue growing +5.4%.
Diluted EPS declined -12.5% to $0.63, while Adjusted EPS on a constant currency basis was up +28.6% to $0.99.
YTD cash from operating activities reached $3.5 billion, and YTD Free Cash Flow was $2.5 billion.
Agreed to acquire a majority stake in Evirth.
Revenue by Geographic Location
Forward Guidance
Mondelēz International reaffirms 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 based on 2023 Adjusted EPS incl. developed market gum. The company expects 2024 Free Cash Flow of $3.5+ billion. The company estimates currency translation would decrease 2024 net revenue growth by approximately 1.5 percent with a negative $0.11 impact to Adjusted EPS.
Positive Outlook
- Reaffirms Organic Net Revenue growth to be at the upper end of 3 to 5 percent.
- High single-digit Adjusted EPS growth on a constant currency basis.
- Expects 2024 Free Cash Flow of $3.5+ billion.
- Focus on reinvesting behind brands.
- Driving distribution and expanding capabilities.
Challenges Ahead
- Currency translation would decrease 2024 net revenue growth by approximately 1.5 percent.
- Negative $0.11 impact to Adjusted EPS due to currency translation.
- Outlook is provided in the context of greater than usual volatility.
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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