Press release
Mondelēz International Reports Q1 2020 Results
Net revenues increased 2.6% driven by Organic Net Revenue1 growth of 6.4% partially offset by unfavorable currency impactsDiluted EPS was $0.52, down 17.5%
About this update from Mondelez International, Inc.
[{"type":"text","content":"Net revenues increased 2.6% driven by Organic Net Revenue1 growth of 6.4% partially offset by unfavorable currency impactsDiluted EPS was $0.52, down 17.5% due to unrealized losses in mark-to-market impact from currency and commodities derivatives; Adjusted EPS1 was $0.69, up 10.8% on a constant-currency basisCash provided by operating activities was $284 million; Free Cash Flow1 was $70 millionReturn of capital to shareholders was $1.1 billionLong-term fundamentals and strategy remain intact; full-year 2020 outlook withdrawn due to uncertainty around the impact of COVID-19 on financial and operating results CHICAGO, Ill., April 28, 2020 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (NASDAQ: MDLZ) today reported its first quarter 2020 results. \n \"We had a strong first quarter, with record market share gains, and executed very well in challenging circumstances, thanks to the dedication and commitment of our colleagues, especially those on the front line, who are working tirelessly to provide food to consumers around the world,\" said Dirk Van de Put, Chairman and Chief Executive Officer. \"In the last month of the quarter, we saw a significant increase in consumer demand for our snacks in developed markets, particularly in North America, which more than offset a more challenging environment in several emerging markets. \"Our priority at this time is to protect our colleagues and maintain business continuity in service of our customers and consumers around the world. We remain confident that with our dedicated people, our portfolio of trusted global and taste-of-the-nation local brands, our strong balance sheet, access to significant liquidity and our clear strategic priorities, we have everything we need to manage through this pandemic and emerge stronger on the other side.\" Our priorities are clear in a volatile, COVID-19 environment During this global crisis, our priorities are clear and informed by our values. Our first priority is to protect and support the safety and well-being of our employees. We have introduced strict health and safety protocols across our facilities and are providing enhanced benefits for front-line employees. We are supporting community partners advancing critical food stability and emergency relief efforts across the world with both cash donations and products. We have donated $20 million to date...