Mondelēz tops Q3 profit estimates but misses on revenue

Mondelēz International (MDLZ) said on Oct. 29 that adjusted earnings per share for the third quarter of 2026 were 78 cents, topping the 73 cents consensus estimate compiled by Finnhub. Net revenues of $9.97 billion missed the $10.18 billion estimate.

The results topped profit estimates but missed on revenue.

Here's how the company did:

• Net revenues: $9.97 billion vs. $9.74 billion a year earlier; $10.18 billion expected, according to Finnhub
• Adjusted EPS: 78 cents vs. 73 cents a year earlier; 73 cents expected, according to Finnhub
• Diluted EPS: $1.02 vs. 57 cents a year earlier

The company said in a regulatory filing that net revenues rose 2.3% from a year earlier. Organic net revenue grew 2.1%, driven by favorable volume and mix and higher net pricing.

Segment results

Latin America net revenues rose 12.0% to $1.387 billion. Asia, Middle East and Africa rose 8.2% to $2.182 billion.

Europe fell 3.3% to $3.552 billion, and North America rose 1.1% to $2.846 billion.

Reported gross profit was $3.924 billion, up 50.2%, and reported operating income was $1.758 billion. Adjusted operating income was $1.384 billion, up 18.2%.

Costs and charges

Reported results included higher restructuring charges, higher intangible asset impairment charges, incremental costs due to geopolitical conflicts and higher ERP System Implementation costs.

The company said it completed the new ERP system for North America and Latin America during the quarter. The remaining segments are expected to be completed by year-end 2028.

Asset impairments and exit costs were $128 million, against $41 million a year earlier.

The company also said it recently agreed to acquire Undercover Snacks, a quinoa crisp line. The filing does not give a price or other terms.

Chairman and Chief Executive Officer Dirk Van de Put said, "We delivered strong third-quarter results, driven by broad based volume growth and robust share performance."

2026 outlook

For 2026, the company reaffirmed Organic Net Revenue growth of at least 2 percent and Adjusted EPS growth in the range of flat to 5 percent on a constant currency basis. It kept its Free Cash Flow forecast of approximately $3 billion.

The currency estimate changed. The company now expects currency translation to add approximately 1.5 percent to 2026 net revenue growth and 4 cents to Adjusted EPS, based on XE.com rates from Oct. 22. Its July 28 release estimated 2.0 percent and 5 cents.

Cash and capital returns

Year-to-date cash provided by operating activities was $2.6 billion, and Free Cash Flow was $1.7 billion.

The company returned $2.8 billion to shareholders in cash dividends and share repurchases through the first nine months of 2026.