Press release
Mondelēz International Reports Q1 2024 Results
First Quarter Highlights Net revenues increased +1.4% driven by Organic Net Revenue1 growth of +4.2% with underlying Volume/Mix of -2.1%Diluted EPS was $1.04,
About this update from Mondelez International, Inc.
[{"type":"text","content":"First Quarter Highlights Net revenues increased +1.4% driven by Organic Net Revenue1 growth of +4.2% with underlying Volume/Mix of -2.1%Diluted EPS was $1.04, down 31.6%; Adjusted EPS1 was $0.95, up +16.3% on a constant currency basisCash provided by operating activities was $1.3 billion, up $0.2 billion versus prior year; Free Cash Flow1 was $1.0 billion, up $0.1 billion versus prior yearReturn of capital to shareholders was $1.1 billion CHICAGO, April 30, 2024 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (Nasdaq: MDLZ) today reported its first quarter 2024 results. “We posted solid top-line results coupled with robust earnings and free cash flow generation in the first quarter driven by strong pricing execution, effective cost management and emerging market momentum,” said Dirk Van de Put, Chair and Chief Executive Officer. “Despite facing a challenging and dynamic operating environment, our teams remained focused and agile in executing against our long-term growth strategy. We continue to reinvest in our brands, drive distribution gains and capture synergies from recently acquired assets to drive sustainable long-term growth.” Net Revenue $ in millionsReportedNet Revenues Organic Net Revenue Growth Q1 2024 % Chgvs PY Q1 2024 Vol/Mix PricingQuarter 1 Latin America$1,319 8.9% 7.1% (1.2) pp 8.3 ppAsia, Middle East & Africa 1,950 0.6 5.9 (0.2) 6.1Europe 3,368 1.8 4.4 (3.5) 7.9North America 2,653 (2.1) 1.3 (2.1) 3.4Mondelēz International$9,290 1.4% 4.2% (2.1) pp 6.3 ppEmerging Markets$3,733 3.8% 8.3% 0.1 pp 8.2 ppDeveloped Markets$5,557 (0.2)% 1.4% (3.6) pp 5.0 pp Operating Income and Diluted EPS $ in millions, except per share dataReported Adjusted Q1 2024 vs PY(Rpt Fx) Q1 2024 vs PY(Rpt Fx) vs PY(Cst Fx)Quarter 1 Gross Profit$4,750 37.8% $3,629 9.5% 11.6%Gross Profit Margin 51.1% 13.5 pp 39.2% 2.4 pp Operating Income$2,727 81.2% $1,710 12.2% 16.8%Operating Income Margin 29.4% 13.0 pp 18.5% 1.6 pp Net Earnings2$1,412 (32.1) % $1,294 9.8% 14.4%Diluted EPS$1.04 (31.6) % $0.95 10.5% 16.3% First Quarter Commentary Net revenues increased 1.4 percent driven by Organic Net Revenue growth of 4.2 percent and incremental net revenue from a short-term distributor agreement related to the sale of our developed market gum business, partially offset by the impact of our 2023 divestiture of the developed market gum business and unfavorable ...