Press release
Mondelēz International Reports Q3 2024 Results
Net Revenues increased +1.9%Organic Net Revenue1 grew +5.4% Volume/Mix grew +0.3% Diluted EPS declined -12.5% to $0.63Adjusted EPS1 on a constant currency
About this update from Mondelez International, Inc.
[{"type":"text","content":"Net Revenues increased +1.9%Organic Net Revenue1 grew +5.4% Volume/Mix grew +0.3% Diluted EPS declined -12.5% to $0.63Adjusted EPS1 on a constant currency basis up +28.6% to $0.99 YTD cash from operating activities $3.5 billionYTD Free Cash Flow1 $2.5 billion Agreed to acquire a majority stake in Evirth CHICAGO, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (Nasdaq: MDLZ) today reported its third quarter 2024 results. “We posted robust results for Q3, with accelerated top-line growth, strong earnings and attractive cash flow generation. These results were driven by our commitment to executing with excellence across our categories, markets and brands,” said Dirk Van de Put, Chair and Chief Executive Officer. “We remain focused on reinvesting behind our brands, driving distribution, expanding our capabilities and maintaining cost discipline. We continue working to accelerate our core business while strategically reshaping our portfolio – for example, through our expanded partnership with Evirth, a leading manufacturer of cakes and pastries in China. We are excited about the opportunity to further leverage our iconic brands and distribution to create more premium offerings in the fast-growing cakes and pastries space.” Net Revenue $ in millionsReportedNet Revenues Organic Net Revenue Growth Q3 2024 % Chgvs PY Q3 2024 Vol/Mix PricingQuarter 3 Latin America$1,204 (7.7)% 2.0% (3.9)pp 5.9ppAsia, Middle East & Africa 1,851 3.4 5.8 0.7 5.1 Europe 3,323 7.7 8.1 0.5 7.6 North America 2,826 (0.7) 3.7 1.7 2.0 Mondelēz International$9,204 1.9% 5.4% 0.3pp 5.1ppEmerging Markets$3,530 0.1% 4.9% (1.0)pp 5.9ppDeveloped Markets$5,674 3.1% 5.6% 1.0pp 4.6pp September Year-to-DateYTD 2024 YTD 2024 Latin America$3,755 0.3% 4.5% (2.7)pp 7.2ppAsia, Middle East & Africa 5,388 0.9 5.4 (0.4) 5.8 Europe 9,565 2.6 5.1 (2.1) 7.2 North America 8,129 (2.1) 1.8 (0.5) 2.3 Mondelēz International$26,837 0.5% 4.0% (1.4)pp 5.4ppEmerging Markets$10,523 0.9% 6.0% (1.0)pp 7.0ppDeveloped Markets$16,314 0.3% 2.8% (1.6)pp 4.4pp Operating Income and Diluted EPS $ in millions, except per share dataReported Adjusted Q3 2024 vs PY(Rpt Fx) Q3 2024 vs PY(Rpt Fx) vs PY(Cst Fx)Quarter 3 Gross Profit$2,999 (14.2)% $3,729 10.3% 11.2%Gross Profit Margin 32.6% (6.1)pp 40.5% 2.3pp Operating Income$1,153 (16.4)% $1,738 20.9% 22.0%Operating Income Margin 12.5% (2.8)pp 18....