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Mondelez
🇺🇸 NASDAQ:MDLZ
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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%

Total Revenue
$8.7B
Previous year: $7.66B
+13.5%
EPS
$0.73
Previous year: $0.71
+2.8%
Organic Net Revenue Growth
15.4%
Previous year: 5.4%
+185.2%
Gross Profit
$3.08B
Previous year: $2.83B
+8.5%
Cash and Equivalents
$1.92B
Previous year: $3.55B
-45.8%
Free Cash Flow
$3B
Previous year: $3.18B
-5.5%
Total Assets
$71.2B
Previous year: $67.1B
+6.1%

Mondelez

Mondelez

Mondelez 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
  • Unpredictability of future changes in currency exchange rates

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Mondelez