Financial Performance - Net revenues increased 0.2% to $9.3 billion in Q1 2025 compared to the same period in the prior year, driven by higher net pricing and incremental revenue from the acquisition of Evirth[126]. - Organic Net Revenue rose 3.1% to $9.6 billion in Q1 2025, attributed to higher net pricing, partially offset by unfavorable volume/mix[126]. - Diluted EPS attributable to Mondelēz International decreased 70.2% to $0.31 in Q1 2025, impacted by unfavorable mark-to-market changes and costs from the ERP System Implementation[126]. - Adjusted EPS fell 20.4% to $0.74 in Q1 2025, with a constant currency decrease of 18.3% to $0.76, driven by operating declines and higher interest expenses[126]. - Net revenues for the first quarter of 2025 increased by $23 million (0.2%) to $9,313 million, with Organic Net Revenue growth of $291 million (3.1%) to $9,556 million[131]. - Net earnings attributable to Mondelēz International were $402 million, a decrease of $1,010 million (71.5%), with diluted EPS at $0.31, down $0.73 (70.2%) from the previous year[143]. - Operating income decreased by $2,047 million (75.1%) to $680 million, with Adjusted Operating Income down $335 million (19.6%) to $1,375 million[134]. - Total segment operating income for the first quarter of 2025 was $680 million, a significant decrease of $2,047 million (75.1%) from $2,727 million in 2024[150]. Revenue Drivers - The acquisition of Evirth (Shanghai) Industrial Co., Ltd. was completed in Q4 2024, enhancing the company's presence in the cake and pastry market in China[121]. - The acquisition of Evirth on November 1, 2024, contributed an incremental $99 million in net revenues for the first quarter of 2025[132]. - Higher net pricing was observed across all regions except North America, driven by carryover pricing from 2024 and input cost-driven pricing actions[138]. - Unfavorable volume/mix was experienced across all regions, reflecting volume declines due to pricing elasticity impacts and category softness in North America[132]. - Latin America segment net revenues decreased by $116 million (8.8%) to $1,203 million, primarily due to unfavorable currency impacts and volume declines[152][153]. - AMEA segment net revenues increased by $66 million (3.4%) to $2,016 million, driven by an acquisition that contributed $99 million in net revenues[155][156]. - Europe segment net revenues rose by $182 million (5.4%) to $3,550 million, supported by higher net pricing[158][159]. - North America segment net revenues decreased by $109 million (4.1%) to $2,544 million, impacted by unfavorable volume/mix and currency translation[161][162]. Currency and Commodity Impact - In Q1 2025, unfavorable currency-related items impacted Organic Net Revenue by $342 million (3.7 pp) due to currency translation rate changes[119]. - Currency-related items negatively impacted net revenues by $342 million due to unfavorable currency translation rate changes[132]. - Commodity costs increased due to higher prices for cocoa, dairy, packaging, energy, and nuts, partially offset by lower sugar, grains, and edible oils costs[179]. - The company expects elevated cocoa costs in the near- and medium-term due to ongoing supply chain disruptions and higher commodity costs[182]. - The company utilizes hedging, higher pricing, and cost control to address commodity cost increases, but may not fully hedge against all cost fluctuations[183]. Operational Challenges - The company anticipates ongoing volatility in future snacks revenue growth due to macroeconomic uncertainties and inflationary pressures[111]. - The war in Ukraine has led to operational challenges, with Ukraine and Russia contributing 0.4% and 3.1% to consolidated net revenue, respectively, in Q1 2025[114]. - The company continues to monitor trade and regulatory uncertainties, particularly regarding tariffs that could significantly impact revenue and costs[112]. - Incremental costs related to the war in Ukraine, including asset impairments and higher allowances for uncollectible accounts, are isolated and excluded from operating results[9]. Capital and Expenditures - The company expects capital expenditures for 2025 to be up to $1.3 billion, focusing on modernizing manufacturing facilities and supporting productivity initiatives[170]. - Dividends paid in the first quarter of 2025 amounted to $623 million, an increase from $578 million in the same period of 2024[172]. - Total debt increased to $19.5 billion as of March 31, 2025, up from $17.7 billion at the end of 2024, with a debt-to-capitalization ratio of 0.43[176]. - The company generated $1,092 million in net cash from operating activities in the first quarter of 2025, down from $1,324 million in 2024[168][169]. Risk Management - The company faces risks from macroeconomic conditions, geopolitical uncertainties, and changes in consumer preferences that could affect performance[186]. - The company is primarily exposed to currency exchange rate, commodity price, and interest rate market risks, which are managed as part of its overall risk management program[195]. - Derivative instruments are utilized to reduce earnings fluctuations from volatility in currency exchange rates, commodity prices, and interest rates[196]. Non-GAAP Measures - Non-GAAP financial measures, such as Organic Net Revenue and Adjusted Operating Income, are used to evaluate business performance and trends[188]. - Organic Net Revenue excludes impacts from acquisitions, divestitures, and currency-related items, reflecting underlying business growth[191]. - Adjusted Operating Income excludes various impacts, including those from the Simplify to Grow Program and acquisition-related items, to provide comparability of operating results[191]. - The company evaluates its operating performance on a constant currency basis, excluding the effects of currency translation rate changes and extreme pricing increases in Argentina starting Q1 2024[4]. - Unrealized gains and losses from commodity and foreign currency derivative contracts are excluded from non-GAAP earnings measures to remove volatility from future inventory purchases[8]. - Gains and losses on partial or full sales of equity method investments are excluded from non-GAAP financial measures to better reflect underlying operations[15].

Financial Performance - Net revenues for Q1 2025 increased by 0.2%, with organic net revenue growth of 3.1% and a volume/mix decline of 3.5%[1] - Diluted EPS decreased by 70.2% to $0.31, while adjusted EPS was $0.74, reflecting an 18.3% decline on a constant currency basis[5] - Gross profit margin fell to 26.1%, down 2,500 basis points year-over-year, primarily due to increased raw material and transportation costs[7] - Operating income decreased by 75.1% to $680 million, with an operating income margin of 7.3%, down 2,210 basis points[5] - Net revenues for Q1 2025 were $9,313 million, a slight increase from $9,290 million in Q1 2024, representing a growth of 0.2%[23] - Gross profit decreased to $2,430 million in Q1 2025, with a gross profit margin of 26.1%, down from $4,750 million and 51.1% in Q1 2024[23] - Operating income fell to $680 million in Q1 2025, with an operating income margin of 7.3%, compared to $2,727 million and 29.4% in Q1 2024[23] - Net earnings attributable to Mondelēz International were $402 million in Q1 2025, a significant decline from $1,412 million in Q1 2024[23] - Basic earnings per share attributable to Mondelēz International decreased to $0.31 in Q1 2025 from $1.05 in Q1 2024[23] Shareholder Returns - The company returned $2.1 billion to shareholders through cash dividends and share repurchases in Q1 2025[8] Future Outlook - For 2025, the company expects organic net revenue growth of approximately 5% and adjusted EPS to decline by about 10% on a constant currency basis due to cocoa cost inflation[10] - Free cash flow for 2025 is projected to exceed $3 billion[10] - The outlook for 2025 does not account for potential tariff changes related to the USMCA[10] Assets and Liabilities - Total assets increased to $68,927 million as of March 31, 2025, compared to $68,497 million at the end of 2024[26] - Total liabilities rose to $43,104 million as of March 31, 2025, up from $41,539 million at the end of 2024[26] - Net debt increased to $17,977 million as of March 31, 2025, from $16,398 million at the end of 2024[26] Cash Flow - Net cash provided by operating activities was $1,092 million in Q1 2025, down from $1,324 million in Q1 2024[29] - The company reported a net cash used in financing activities of $704 million in Q1 2025, compared to $1,223 million in Q1 2024[29] - Net Cash Provided by Operating Activities decreased by $232 million from $1,324 million in 2024 to $1,092 million in 2025[77] - Free Cash Flow decreased by $210 million from $1,025 million in 2024 to $815 million in 2025[77] Strategic Initiatives - The company remains committed to its strategic agenda and aims to navigate the volatile operating environment effectively[3] - The Simplify to Grow Program, aimed at reducing supply chain and overhead costs, was completed in Q4 2024, with restructuring charges incurred during the process[47] - The ERP System Implementation program is ongoing, with expected completion by year-end 2028, involving significant incremental costs[52] - The Simplify to Grow program contributed to operational efficiencies, with a total impact of $53 million[72] Currency and Economic Impact - The company reported a significant impact from currency-related items, contributing $342 million to organic revenue growth[59] - The company reported a significant impact from currency-related items, totaling $27 million[70] - The company incurred incremental costs related to the war in Ukraine, including asset write-downs, but has resumed production at its Ukrainian facilities as of Q2 2024[51] - The company noted incremental costs due to the war in Ukraine, amounting to $1 million[72] - The company has excluded the impact of extreme pricing increases in Argentina (over 26% year-over-year) from its non-GAAP measures starting Q1 2024[57] - The company’s operations in highly inflationary economies, including Argentina, Türkiye, Egypt, and Nigeria, are accounted for separately to reflect their unique financial impacts[49] Adjusted Financial Metrics - Adjusted (Non-GAAP) gross profit for Q1 2025 was $3,110 million, with a gross margin of 33.4%, and adjusted operating income was $1,375 million, reflecting an operating margin of 14.8%[63] - Adjusted EPS (Non-GAAP) for Q1 2025 was $0.74, down 20.4% from $0.93 in Q1 2024[68] - Adjusted (Non-GAAP) net earnings for Q1 2025 were $1,375 million, with an effective tax rate of 23.6%[65] - The adjusted operating income for North America was $412 million, with a margin of 21.1%[72]

Core Insights - Mondelēz International reported a slight increase in net revenues of 0.2% for Q1 2025, with organic net revenue growth of 3.1%, but faced a decline in volume/mix of 3.5% [1][6] - The diluted EPS fell significantly by 70.2% to $0.31, while adjusted EPS decreased by 18.3% on a constant currency basis to $0.74 [1][5] - The company generated $1.1 billion in cash from operating activities and reported free cash flow of $0.8 billion, returning $2.1 billion to shareholders [1][6] Financial Performance - Net revenues for Q1 2025 were $9,313 million, showing a 0.2% increase compared to the previous year, with organic net revenue growth of 3.1% [4][20] - The gross profit decreased to $2,430 million, with a gross profit margin of 26.1%, down 25.0 percentage points year-over-year [5][20] - Operating income was reported at $680 million, reflecting a 75.1% decline, with an operating income margin of 7.3%, down 22.1 percentage points [5][20] Regional Performance - In Latin America, net revenues were $1,203 million, down 8.8%, while organic net revenue growth was 3.9% [4] - Asia, Middle East & Africa reported net revenues of $2,016 million, with a 3.4% increase and organic growth of 1.8% [4] - Europe saw net revenues of $3,550 million, up 5.4%, with organic growth of 8.9% [4] Strategic Outlook - The company reaffirmed its outlook for 2025, expecting organic net revenue growth of approximately 5% and a decline in adjusted EPS of about 10% on a constant currency basis due to cocoa cost inflation [8][51] - Free cash flow for 2025 is projected to exceed $3 billion, with no expected impact from currency translation on net revenue growth or adjusted EPS [8][51] Shareholder Returns - Mondelēz returned $2.1 billion to shareholders through cash dividends and share repurchases in the first quarter of 2025 [1][6] - The company continues to focus on delivering sustainable shareholder value while navigating a volatile operating environment [3][6]

Core Viewpoint - Mondelez (MDLZ) is expected to report quarterly earnings of $0.66 per share, reflecting a 30.5% decline year-over-year, while revenues are forecasted to increase by 0.4% to $9.33 billion [1] Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised upward by 0.8%, indicating analysts' reassessment of their initial forecasts [2] - Changes in earnings estimates are crucial for predicting investor reactions to the stock, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3] Revenue Projections - Analysts project 'Geographic Revenue- North America' to reach $2.57 billion, a decrease of 3% from the previous year [5] - 'Geographic Revenue- Europe' is estimated at $3.39 billion, reflecting a 0.7% increase year-over-year [5] - 'Geographic Revenue- AMEA' is expected to be $2.07 billion, indicating a 6.1% increase from the prior year [5] - 'Geographic Revenue- Latin America' is forecasted at $1.22 billion, showing a decline of 7.5% year-over-year [6] Operating Income Estimates - 'Operating Income- AMEA- Non-GAAP' is projected at $316.05 million, down from $412 million in the same quarter last year [6] - 'Operating Income- Europe- Non-GAAP' is estimated to be $372.28 million, compared to $641 million in the previous year [7] - 'Operating Income- North America- Non-GAAP' is expected to reach $503.38 million, down from $579 million year-over-year [7] - 'Operating Income- Latin America- Non-GAAP' is forecasted at $129.93 million, a decrease from $178 million in the same quarter last year [8] Stock Performance - Mondelez shares have increased by 1.6% over the past month, contrasting with a decline of 5.1% in the Zacks S&P 500 composite [9] - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [9]

Group 1 - The RITZ Brand is launching a limited-edition product called "Sunkissed" Crackers, which features a crispy baked experience with a buttery, salty flavor [2][3] - The introduction of "Sunkissed" Crackers is part of a broader innovation strategy aimed at modernizing the RITZ brand to appeal to today's consumers [2] - To promote the new product, the RITZ Brand is hosting a Golden Summer Giveaway, offering a chance to win $50,000 to help consumers plan their summer vacations [2][3] Group 2 - The giveaway aims to encourage consumers to utilize their vacation days, as 46% of U.S. workers do not take all their paid time off [2][4] - The promotion runs from April 14, 2025, to August 31, 2025, and includes various summer-related prizes [5] - Mondelēz International, the parent company of the RITZ Brand, reported net revenues of approximately $36.4 billion in 2024, highlighting its strong position in the global snacking market [6]

Core Insights - Mondelez International, Inc. (MDLZ) is expected to report revenue growth of 0.4% year-over-year, with a consensus estimate of $9.3 billion for first-quarter 2025 earnings [1] - However, the company's earnings per share (EPS) is projected to decline by 30.5% year-over-year, with a consensus estimate of 66 cents [2] - The company has a history of delivering earnings surprises, averaging 8.3% over the last four quarters [2] Revenue and Growth Factors - Continuous reinvestments in brands and capabilities, along with effective portfolio reshaping, are contributing to Mondelez's performance [2] - Focus on core categories such as chocolate, biscuits, and baked snacks is expected to support revenue growth, with a projected 0.7% increase in the biscuit category for the first quarter [2] - The company is benefiting from a favorable pricing environment, with an expected organic revenue growth of 3.1% driven by a 3.2% increase in pricing [3] Cost Pressures - Ongoing challenges from elevated input costs, particularly cocoa, are anticipated to impact profitability in the first quarter [4] Earnings Prediction Model - The Zacks model indicates that Mondelez does not conclusively predict an earnings beat this time, with a Zacks Rank of 3 (Hold) and an Earnings ESP of -1.96% [5]

Core Viewpoint - The article compares Utz Brands (UTZ) and Mondelez (MDLZ) to determine which company presents a better investment opportunity for value investors, highlighting UTZ as the superior option based on various valuation metrics [1]. Valuation Metrics - Utz Brands has a forward P/E ratio of 16.56, while Mondelez has a forward P/E of 23.10, indicating that UTZ is currently valued more favorably [5]. - The PEG ratio for UTZ is 1.75, compared to Mondelez's PEG ratio of 4.42, suggesting that UTZ offers better value relative to its expected earnings growth [5]. - The P/B ratio for UTZ is 1.43, while Mondelez has a P/B of 3.28, further supporting the notion that UTZ is undervalued compared to MDLZ [6]. Earnings Outlook - Utz Brands is experiencing an improving earnings outlook, which enhances its attractiveness in the Zacks Rank model, indicating a positive trend in earnings estimates [7].

Core Insights - Mondelēz International, Inc. emphasizes its commitment to sustainability as a key pillar of its long-term strategy, alongside growth, execution, and culture [1][2] - The company reported net revenues of approximately $36.4 billion in 2024, showcasing its leadership in the snacking industry with well-known brands [3] Sustainability Progress - The 2024 Snacking Made Right Report highlights significant advancements in sustainable sourcing, carbon emission reductions, recyclable packaging, and mindful portions [4] - The Cocoa Life program now covers nearly 91% of the company's cocoa volume, promoting responsible sourcing and empowering farming communities [5] - The company achieved a 12% reduction in end-to-end greenhouse gas emissions across its value chain compared to 2018 [5] - Approximately 96% of the company's packaging is designed to be recyclable, contributing to a more circular economy [5] - Over 84% of revenue is now derived from individually wrapped mindful portions or clear portion guidance on packaging [5]

Core Insights - Mondelēz International, Inc. emphasizes its commitment to sustainability as a key pillar of its long-term strategy, alongside growth, execution, and culture [1][2] - The company reported net revenues of approximately $36.4 billion in 2024, showcasing its leadership in the snacking industry with well-known brands [3] Sustainability Progress - The company has made significant strides in sustainable sourcing, with nearly 91% of its cocoa volume covered by its Cocoa Life program, which supports farming communities and landscape regeneration [6] - A 12% reduction in end-to-end greenhouse gas (GHG) emissions has been achieved across the company's value chain compared to 2018 [6] - Approximately 96% of the company's packaging is designed to be recyclable, contributing to a more circular economy [6] - Over 84% of the company's revenue now comes from individually wrapped mindful portion snacks or those with clear portion guidance [6] Leadership and Strategy - The company maintains a two-pronged approach to sustainability, collaborating closely across the supply chain and taking a leadership role in industry initiatives [2][5] - The CEO expresses confidence in the company's positioning for long-term sustainable growth through the right strategy, brands, geographic footprint, and personnel [2]

Mondelez (NASDAQ: MDLZ ) is a high-quality consumer staples stock with well- known brands such as Oreo and Cadbury chocolate. The stock has massively outperformed the broader market in 2025, as concerns around tariffs and a potential US recessionProfessional equity portfolio manager for a boutique buy-side asset manager.My focus is on finding high-quality companies, applying a disciplined approach to valuation and identifying underappreciated opportunities. My goal is to identify opportunities in cash-rich ...