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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%
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
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