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Dec 31, 2022
Mondelez Q4 2022 Earnings Report
Reported strong Q4 and FY 2022 results driven by broad-based growth and strategic portfolio focus.
Key Takeaways
Mondelēz International reported strong Q4 2022 results, demonstrating the strength and diversification of its portfolio. The company delivered broad-based growth across regions, categories, and brands, driven by double-digit top-line growth supported by both pricing and volume. This enabled robust cash flow generation and significant return of capital to shareholders.
Net revenues for the full year increased +9.7% driven by Organic Net Revenue growth of +12.3% with underlying Volume/Mix of +2.7%. For the fourth quarter, Net revenues increased +13.5% driven by Organic Net Revenue growth of +15.4% with underlying Volume/Mix of +1.6%
Diluted EPS was $1.96, down 35.5%; Adjusted EPS was $2.95, up +11.9% on a constant currency basis
Cash provided by operating activities was $3.9 billion, a decrease of $0.2 billion versus prior year; Free Cash Flow was $3.0 billion, down $0.2 billion versus prior year
Return of capital to shareholders was $4.0 billion; increased dividend per share by 10%
Revenue by Geographic Location
Forward Guidance
For 2023, the company expects Organic Net Revenue growth of 5 to 7 percent, high single-digit Adjusted EPS growth on a constant currency basis and Free Cash Flow of $3.3+ billion. The company estimates currency translation would decrease 2023 net revenue growth by approximately 1 percent with a negative $0.04 impact to Adjusted EPS.
Positive Outlook
- Organic Net Revenue growth of 5 to 7 percent
- High single-digit Adjusted EPS growth on a constant currency basis
- Free Cash Flow of $3.3+ billion
- Focus on high-growth categories
- Strong marketplace execution
Challenges Ahead
- Currency translation would decrease 2023 net revenue growth by approximately 1 percent
- Negative $0.04 impact to Adjusted EPS from currency translation
- Greater than usual volatility as a result of COVID-19
- 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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