If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Mondelez (MDLZ) . This company, which is in the Zacks Food - Miscellaneous industry, shows potential for another earnings beat.This maker of Oreo cookies, Cadbury chocolate and Trident gum has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the las ...

Mondelez International, Inc. (NASDAQ:MDLZ) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Shep Dunlap - Senior Vice President, Investor Relations Dirk Van de Put - Chairman and Chief Executive Officer Luca Zaramella - Executive Vice President and Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Kenneth Goldman - JPMorgan Bryan Spillane - Bank of America David Palmer - Evercore ISI Michael Lavery - Piper Sandler Matthew Smith - Stifel John Baumga ...

Financial Performance - Net revenues increased 16.3% to $9.0 billion in Q3 2023 and 17.1% to $26.7 billion in the first nine months of 2023 compared to the same periods in the prior year[146]. - Organic Net Revenue increased 15.7% to $9.0 billion in Q3 2023 and 17.0% to $26.6 billion in the first nine months of 2023, driven by higher net pricing and favorable volume/mix[147]. - Diluted EPS attributable to Mondelēz International increased 84.6% to $0.72 in Q3 2023 and 89.6% to $2.92 in the first nine months of 2023 compared to the same period in the prior year[148]. - Adjusted EPS increased 13.9% to $0.82 in Q3 2023 and 13.4% to $2.46 in the first nine months of 2023 compared to the same periods in the prior year[149]. - Net revenues increased by $1,266 million (16.3%) to $9,029 million in Q3 2023, with Organic Net Revenue up by $1,215 million (15.7%) to $8,977 million[154]. - Operating income surged by $700 million (103.1%) to $1,379 million compared to Q3 2022[156]. - Net earnings attributable to Mondelēz International increased by $452 million (85.0%) to $984 million[154]. - Diluted earnings per share rose by $0.33 (84.6%) to $0.72[154]. - Operating income rose to $4.3 billion, a 59.6% increase compared to $2.7 billion in the same quarter last year[165]. - Net earnings attributable to Mondelēz International reached $4.0 billion, up 87.9% from $2.1 billion in Q3 2022[165]. - The company reported an operating income margin increase from 8.7% in Q3 2022 to 15.3% in Q3 2023, driven by favorable pricing and productivity improvements[161]. Market and Segment Performance - Emerging markets net revenues rose by 14.0%, while developed markets net revenues increased by 17.8%[155]. - Latin America net revenues for Q3 2023 increased by $392 million (42.9%) to $1,305 million, driven by higher net pricing and the acquisition of Ricolino[180]. - AMEA segment net revenues for Q3 2023 rose by $87 million (5.1%) to $1,791 million, with higher net pricing contributing significantly[187]. - Europe net revenues for Q3 2023 increased by $437 million (16.5%) to $3,086 million, supported by higher net pricing and favorable volume/mix[192]. - North America segment net revenues for Q3 2023 grew by $350 million (14.0%) to $2,847 million, reflecting strong demand across product categories[180]. - Segment operating income for Latin America increased by $44 million (39.3%) to $156 million, primarily due to higher net pricing and lower manufacturing costs[184]. - AMEA segment operating income for Q3 2023 rose by $45 million (17.5%) to $302 million, driven by higher net pricing and productivity improvements[189]. - Europe segment operating income for Q3 2023 increased by $81 million (19.6%) to $494 million, benefiting from higher net pricing and favorable volume/mix[193]. - North America segment operating income for Q3 2023 grew by $67 million (14.4%) to $532 million, reflecting improved operational efficiency[180]. Acquisitions and Strategic Initiatives - The company completed the sale of its developed market gum business to Perfetti Van Melle Group on October 1, 2023, excluding the Portugal business pending regulatory approval[136]. - The acquisition of Ricolino contributed $153 million and Clif Bar added $71 million to net revenues on a constant currency basis[154]. - The acquisition of Ricolino contributed an incremental $446 million in net revenues, while Clif Bar added $529 million through its one-year anniversary[166]. - The company completed several strategic acquisitions, including Ricolino, Clif Bar, and Chipita, which are expected to enhance market presence and operational synergies[220]. Cost and Expense Management - Selling, general and administrative expenses increased by $135 million year-over-year, influenced by acquisitions and higher advertising costs[159]. - Total selling, general and administrative expenses increased by $490 million, primarily due to higher advertising and consumer promotion costs[171]. - Higher net pricing contributed $3,327 million to Adjusted Operating Income, while increased input costs negatively impacted it by $2,195 million[168]. - Adjusted Operating Income increased by $258 million (20.6%) to $1,511 million, with a constant currency increase of $307 million (24.5%) to $1,560 million[156]. - Adjusted Operating Income increased by $697 million to $4,424 million, representing an 18.7% change[167]. - Adjusted Operating Income on a constant currency basis rose by $880 million (23.6%) to $4,607 million[167]. Economic and Regulatory Environment - The company anticipates ongoing volatility in future snacks revenue growth due to macroeconomic factors including inflationary pressures and supply constraints[132]. - The U.K. advertising and promotion ban is expected to go into effect in October 2025, but did not significantly impact the company's financial statements for the three and nine months ended September 30, 2023[140]. - Future performance may be affected by macroeconomic conditions, including inflation and geopolitical uncertainties, particularly related to the ongoing situation in Ukraine[220]. - Legal and tax proceedings, including the European Commission investigation, may impact future financial results and operational strategies[222]. Risk Management - The company is exposed to currency exchange rate, commodity price, and interest rate market risks, which are managed through a risk management program[231]. - Fluctuations in currency exchange rates can create volatility in reported results, with a stronger U.S. dollar adversely affecting consolidated earnings and net assets[232]. - The company actively monitors commodity markets, with input costs subject to fluctuations due to various external factors, and employs forward purchase agreements and derivative instruments to manage these costs[233]. - Interest rate movements, including U.S. Treasury rates and corporate credit spreads, are regularly evaluated, and the company uses interest rate swaps to manage its debt structure[234]. Cash Flow and Capital Management - Total debt decreased to $20.0 billion as of September 30, 2023, from $22.9 billion as of December 31, 2022, with a debt-to-capitalization ratio of 0.41[213]. - Net cash provided by operating activities increased to $3,150 million for the nine months ended September 30, 2023, compared to $2,516 million in the prior year[207]. - The company paid dividends of $1,581 million in the first nine months of 2023, up from $1,457 million in the same period of 2022[210]. - The company expects 2023 capital expenditures to be up to $1.2 billion, primarily for modernizing manufacturing facilities and supporting productivity initiatives[208]. Operational Efficiency - The company aims to achieve profitable, long-term growth by focusing on key operating metrics such as Organic Net Revenue, Adjusted Operating Income, and Adjusted EPS[143]. - The company plans to continue focusing on its Simplify to Grow program to enhance operational efficiency and reduce costs[171]. - Adjusted Operating Income was positively impacted by the Simplify to Grow Program, which aims to transform the supply chain network and organizational structure[226].

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Mondelez International, Inc. (NASDAQ:MDLZ) Q2 2023 Earnings Conference Call July 27, 2023 5:00 PM ET Company Participants Shep Dunlap - Vice President, Investor Relations Dirk Van de Put - Chairman and Chief Executive Officer Luca Zaramella - Executive Vice President and Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Bryan Spillane - Bank of America David Palmer - Evercore ISI Kenneth Goldman - JPMorgan Christopher Carey - Wells Fargo Securities John Baumgartner - Mizuho Securi ...

Revenue Growth and Performance - Net revenues increased 17.0% to $8.5 billion in Q2 2023 and 17.5% to $17.7 billion in the first six months of 2023, driven by higher net pricing, acquisitions, and favorable volume/mix[142] - Organic Net Revenue, a non-GAAP measure, increased 15.8% to $8.4 billion in Q2 2023 and 17.7% to $17.7 billion in the first six months of 2023, primarily due to higher net pricing[143] - Net revenues increased by $1,233 million (17.0%) to $8,507 million in Q2 2023, driven by Organic Net Revenue growth of 15.8% and acquisitions, partially offset by unfavorable currency translation and divestitures[150] - Emerging markets net revenues increased by 17.8%, with Organic Net Revenue growth of 23.3%, while developed markets net revenues increased by 16.4%, with Organic Net Revenue growth of 11.2%[150] - Net revenues increased by $2,635 million (17.5%) to $17,673 million for the six months ended June 30, 2023[161] - Net revenue increased by 17.5% to $17.673 billion, with acquisitions adding $751 million and unfavorable currency impacts reducing revenues by $748 million[162] - Net revenues for Latin America increased by 40.2% to $1.228 billion in Q2 2023, driven by higher net pricing (35.1 pp), acquisitions (15.9 pp), and favorable volume/mix (2.6 pp)[176][177] - Net revenues for Europe increased to $2.926 billion in Q2 2023, up from $2.626 billion in Q2 2022[174] - North America net revenues rose to $2.744 billion in Q2 2023, compared to $2.237 billion in Q2 2022[174] - Total net revenues for the company reached $8.507 billion in Q2 2023, up from $7.274 billion in Q2 2022[174] - Net revenues in North America increased by $1,080 million (24.7%) over six months, driven by higher net pricing (12.7 pp), Clif Bar acquisition (10.5 pp), and favorable volume/mix (2.1 pp), partially offset by unfavorable currency (0.6 pp)[196] Earnings and Profitability - Diluted EPS increased 27.8% to $0.69 in Q2 2023 and 91.3% to $2.20 in the first six months of 2023, driven by favorable mark-to-market impacts and lower acquisition costs[144] - Adjusted EPS, a non-GAAP measure, increased 16.9% to $0.76 in Q2 2023 and 13.0% to $1.65 in the first six months of 2023, driven by operating gains and acquisitions[145] - Operating income rose by $498 million (53.7%) to $1,425 million in Q2 2023, compared to $927 million in Q2 2022[150] - Net earnings attributable to Mondelēz International increased by $197 million (26.4%) to $944 million in Q2 2023[150] - Diluted earnings per share increased by $0.15 (27.8%) to $0.69 in Q2 2023[150] - Operating income increased by $498 million (53.7%) to $1,425 million in Q2 2023 compared to Q2 2022[152] - Adjusted Operating Income on a constant currency basis increased by $288 million (26.3%) to $1,385 million in Q2 2023[152] - Net earnings attributable to Mondelēz International increased by $197 million (26.4%) to $944 million in Q2 2023[159] - Diluted EPS attributable to Mondelēz International increased by $0.15 (27.8%) to $0.69 in Q2 2023[159] - Adjusted EPS on a constant currency basis increased by $0.14 (21.5%) to $0.79 in Q2 2023[159] - Operating income increased by $909 million (45.0%) to $2,930 million for the six months ended June 30, 2023[161] - Net earnings attributable to Mondelēz International increased by $1,423 million (88.8%) to $3,025 million for the six months ended June 30, 2023[161] - Diluted earnings per share attributable to Mondelēz International increased by $1.05 (91.3%) to $2.20 for the six months ended June 30, 2023[161] - Adjusted Operating Income increased by 17.7% to $2.913 billion, and on a constant currency basis, it increased by 23.2% to $3.047 billion[163] - Higher net pricing contributed $2.403 billion to Adjusted Operating Income, partially offset by higher input costs of $1.681 billion[164] - Favorable volume/mix contributed $108 million to Adjusted Operating Income, driven by AMEA, Latin America, and North America[164][166] - Operating income margin increased from 13.4% in 2022 to 16.6% in 2023, driven by favorable mark-to-market gains and lower costs related to the war in Ukraine[168] - Adjusted Operating Income margin remained flat at 16.5% as higher net pricing was offset by higher raw material costs[168] - Adjusted EPS on a constant currency basis was $1.75 for the first six months of 2023, up 19.9% from $1.46 in the same period of 2022[170] - Diluted EPS attributable to Mondelēz International increased by 91.3% to $2.20 in the first six months of 2023, compared to $1.15 in 2022[170] - Earnings before income taxes for the company grew to $1.161 billion in Q2 2023, up from $859 million in Q2 2022[174] Acquisitions and Divestitures - The company completed acquisitions of Ricolino, Clif Bar, and Chipita in 2022 to expand its portfolio and announced divestitures of its gum and Halls candy businesses[134] - The acquisition of Ricolino added $137 million in net revenues, and the acquisition of Clif Bar added $240 million in net revenues on a constant currency basis[151] - The acquisition of Ricolino contributed $137 million in incremental net revenues on a constant currency basis in Q2 2023[177] - The acquisition of Ricolino added $293 million in net revenues, and the acquisition of Clif Bar added $458 million in net revenues[162] - North America region net revenues increased by $507 million (22.7%) for the three months ended June 30, driven by Clif Bar acquisition (10.8 pp), higher net pricing (10.4 pp), and favorable volume/mix (2.0 pp), partially offset by unfavorable currency (0.5 pp)[194] - Segment operating income in North America increased by $126 million (27.8%) for the three months ended June 30, primarily due to higher net pricing, Clif Bar acquisition impact, and favorable volume/mix, partially offset by higher raw material costs and unfavorable currency[195] - Net revenues in North America increased by $1,080 million (24.7%) over six months, driven by higher net pricing (12.7 pp), Clif Bar acquisition (10.5 pp), and favorable volume/mix (2.1 pp), partially offset by unfavorable currency (0.6 pp)[196] - Segment operating income in North America increased by $274 million (31.4%) over six months, primarily due to higher net pricing, Clif Bar acquisition impact, and favorable volume/mix, partially offset by higher raw material costs and unfavorable currency[197] Regional Performance - Russia generated 2.8% of consolidated net revenue in Q2 2023, down from 3.7% in Q2 2022, due to suspended advertising and currency weakness, but profitability increased significantly[132] - Ukraine generated 0.3% of consolidated net revenue in Q2 2023, up from 0.2% in Q2 2022, as the company restored limited operations at damaged facilities[132] - Segment operating income for Latin America grew by 48.9% to $134 million in Q2 2023, compared to $90 million in Q2 2022[176] - AMEA region net revenues increased by $74 million (4.8%) for the three months ended June 30, driven by higher net pricing (9.9 pp) and favorable volume/mix (3.3 pp), partially offset by unfavorable currency (8.4 pp)[182] - Europe region net revenues increased by $300 million (11.4%) for the three months ended June 30, driven by higher net pricing (17.6 pp), partially offset by unfavorable volume/mix (4.5 pp) and unfavorable currency (1.7 pp)[188] - Segment operating income increased by $44 million (48.9%) due to higher net pricing, Ricolino acquisition impact, and favorable volume/mix, partially offset by higher raw material costs and unfavorable currency[178] - Net revenues increased by $737 million (43.3%) over six months, driven by higher net pricing (33.4 pp), Ricolino acquisition (17.4 pp), and favorable volume/mix (5.0 pp), partially offset by unfavorable currency (10.7 pp)[179] - Segment operating income increased by $80 million (41.5%) over six months, primarily due to higher net pricing, favorable volume/mix, and Ricolino acquisition impact, partially offset by higher raw material costs and unfavorable currency[180] Currency and Market Impacts - Unfavorable currency impacts decreased net revenues by $283 million, primarily due to the strength of the U.S. dollar against various currencies[151] - Unfavorable currency impacts decreased net revenues by $748 million, primarily due to the strength of the U.S. dollar against most currencies[162] - Fluctuations in currency exchange rates create volatility in reported results, with a stronger U.S. dollar adversely affecting consolidated earnings and net assets[230] - The company uses derivative instruments to hedge against currency exchange rate, commodity price, and interest rate risks to reduce earnings volatility[229] Costs and Expenses - Selling, general, and administrative expenses increased by $307 million, primarily due to higher advertising and consumer promotion costs[167] - Commodity costs increased in the first six months of 2023 due to higher energy, dairy, sugar, grains, edible oils, packaging, cocoa, nuts, and other ingredient costs, as well as unfavorable currency exchange impacts[213] - The company anticipates continued price volatility and higher aggregate costs due to supply chain disruptions, transportation challenges, and labor market conditions[215] - The company manages input cost volatility through forward purchase agreements, productivity measures, and pricing actions to mitigate the impact of higher costs on earnings[231] Liquidity and Capital Management - The company expects to continue utilizing its commercial paper program and international credit lines to meet liquidity needs, with no material negative effects expected on funding sources[199] - Net cash provided by operating activities was $1,973 million in the first six months of 2023, compared to $1,967 million in the same period of 2022, showing minimal change[203][204] - Net cash provided by investing activities improved to $1,250 million in the first six months of 2023, compared to a net cash used of $999 million in the same period of 2022, driven by higher proceeds from share sales and lapping prior-year acquisition costs[203][205] - Net cash used in financing activities increased to $3,539 million in the first six months of 2023, compared to $2,516 million in the same period of 2022, primarily due to lower debt proceeds[203][206] - The company paid dividends of $1,055 million in the first six months of 2023, up from $977 million in the same period of 2022, with a 10% increase in the quarterly dividend to $0.425 per share declared in July 2023[207] - Total debt decreased to $21.2 billion as of June 30, 2023, from $22.9 billion as of December 31, 2022, with a debt-to-capitalization ratio of 0.43, down from 0.46[211] - The company expects 2023 capital expenditures to be up to $1.2 billion, primarily for modernizing manufacturing facilities and supporting productivity initiatives[205] Non-GAAP Adjustments and Exclusions - Adjusted Operating Income excludes impacts from Simplify to Grow Program, goodwill and intangible asset impairments, divestiture and acquisition-related costs, and other non-recurring items to improve comparability of underlying operating results[224] - Adjusted EPS excludes items such as debt extinguishment losses, interest rate swap gains/losses, and mark-to-market impacts from marketable securities to provide a clearer view of ongoing performance[224] - Constant currency adjustments are used to evaluate growth in Adjusted Operating Income and Adjusted EPS by removing the impact of currency exchange rate fluctuations[224] - The company incurred incremental costs due to the war in Ukraine, including asset impairments and higher allowances for uncollectible receivables, which are excluded from non-GAAP results[226] - The European Commission legal matter, related to alleged competition law infringements, is excluded from non-GAAP results due to its infrequent and unusual nature[226] - Pension participation changes, including multiemployer plan withdrawals, are excluded from non-GAAP results as they do not reflect ongoing pension obligations[226] - Marketable securities gains or losses, both realized and unrealized, are excluded from non-GAAP earnings measures starting in Q1 2023[226] Shareholder Returns and Dividends - The company declared a quarterly cash dividend of $0.425 per share, a 10% increase, payable on October 13, 2023, to shareholders of record as of September 29, 2023[207] - The company paid dividends of $1,055 million in the first six months of 2023, up from $977 million in the same period of 2022, with a 10% increase in the quarterly dividend to $0.425 per share declared in July 2023[207] Geopolitical and External Factors - The company anticipates ongoing volatility due to supply chain issues, inflationary pressures, and geopolitical uncertainty, but remains optimistic about future snacks revenue growth[130] - The company incurred incremental costs due to the war in Ukraine, including asset impairments and higher allowances for uncollectible receivables, which are excluded from non-GAAP results[226]

Mondelez International, Inc. (NASDAQ:MDLZ) Q1 2023 Earnings Conference Call April 27, 2023 5:00 PM ET Company Participants Shep Dunlap - Vice President, Investor Relations Dirk Van de Put - Chairman and Chief Executive Officer Luca Zaramella - Executive Vice President, Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Bryan Spillane - Bank of America David Palmer - Evercore ISI Alexia Howard - Bernstein Jason English - Goldman Sachs Michael Lavery - Piper Sa ...

Q1 2023 RESULTS FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. All statements other than statements of historical fact are “forward-looking st ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-16483 Mondelēz International, Inc. (Exact name of registrant as specified in its charter) Virginia 52-2284372 (State or other juri ...

Summary of Mondelez International, Inc. 2023 CAGNY Conference Call Company Overview - **Company**: Mondelez International, Inc. (NASDAQ:MDLZ) - **Date**: February 21, 2023 - **Participants**: Dirk Van de Put (Chairman and CEO), Luca Zaramella (CFO), Martin Renaud (Chief Marketing and Sales Officer) Core Industry and Company Focus - **Industry**: Snack Food Industry - **Core Categories**: Chocolate, Biscuits, Baked Snacks - **Strategic Priorities**: Sustainable growth strategy, focus on high-growth categories, marketing and sales excellence, portfolio reshaping through M&A Key Points and Arguments 1. **Sustainable Growth Strategy**: Mondelez has updated its growth strategy since 2018, focusing on high-growth categories and reshaping its portfolio through M&A [2][3] 2. **Financial Performance**: The company has achieved strong organic net revenue growth, with a healthy mix of volume and price, and has consistently delivered over $3 billion in free cash flow annually [4][6] 3. **Shareholder Returns**: Over the past four years, Mondelez has returned more than $17 billion to shareholders, with a total shareholder return of over 16%, outperforming the peer average of about 11% [4][6] 4. **Market Position**: Mondelez holds a 2 global position in chocolate (13% market share) and a 1 position in biscuits (17% market share) [7][8] 5. **Consumer Trends**: Research indicates that 75% of consumers prioritize snacks in their grocery budget, with 60% expecting to spend the same or more on cookies and chocolate [6][7] 6. **Geographic Growth**: More than one-third of revenues come from emerging markets, which are growing nearly 11%, and all geographic regions are growing at or above the company's top-line algorithm [9][14] 7. **Sustainability Initiatives**: Mondelez has committed $1 billion to its Cocoa Life program to improve cocoa sourcing and sustainability, alongside efforts to reduce carbon emissions and packaging waste [12][13] Additional Important Insights 1. **Marketing and Sales Transformation**: The company has modernized its marketing approach, focusing on digital media and personalized advertising, resulting in a 7-point increase in product superiority ratings since 2019 [30][32] 2. **Acquisition Strategy**: Since 2018, Mondelez has made nine strategic acquisitions, adding nearly $3 billion in revenue, with a focus on chocolate and biscuits [43][45] 3. **Employee Engagement**: Mondelez has made significant strides in diversity and inclusion, with 42% of leadership roles held by women and a 79% employee engagement index [10][11] 4. **Future Outlook**: The company remains confident in its growth trajectory, driven by strong brand loyalty, effective marketing strategies, and a commitment to sustainability [15][52] Conclusion Mondelez International is well-positioned for future growth, leveraging its strong market positions in chocolate and biscuits, a robust acquisition strategy, and a commitment to sustainability and consumer engagement. The company aims to continue delivering substantial growth and shareholder value in the coming years.