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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.
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.com 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.
- Geopolitical uncertainty.
- Commodity prices volatility.
Revenue & Expenses
Visualization of income flow from segment revenue to net income