Press release
Mondelēz International Reports Q3 Results and Raises Full-Year Outlook
Net revenues increased 1.1% driven by Organic Net Revenue1 growth of 4.2% reflecting balanced volume/mix and pricing, offset by unfavorable currency
About this update from Mondelez International, Inc.
[{"type":"text","content":"Net revenues increased 1.1% driven by Organic Net Revenue1 growth of 4.2% reflecting balanced volume/mix and pricing, offset by unfavorable currency impactsDiluted EPS was $0.98, up 21%; Adjusted EPS1 was $0.64, growing strongly at 10% on a constant-currency basisYear-to-date cash from operating activities was $1.9 billion; Free Cash Flow1 was $1.2 billion, increasing by over $100 million versus prior yearReturn of capital to shareholders was approximately $600 million in the quarterRaising Organic Net Revenue and Adjusted EPS growth outlook for full year; confirming Free Cash Flow outlook DEERFIELD, Ill., Oct. 29, 2019 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (NASDAQ: MDLZ) today reported its third quarter 2019 results.\n \"We are pleased to report another quarter of strong top-line growth, continuing the momentum of the first half, enabling us to further increase our outlook for the year. Our strategy to accelerate growth by focusing on the consumer, driving operational excellence and unlocking the potential of our local business units is delivering good results from both local and global brands,\" said Dirk Van de Put, Chairman and CEO. Key Strategic Initiatives The company continued to make good progress against the strategies of accelerating consumer-centric growth, driving operational excellence and building a winning growth culture. Examples from the quarter included: Expansion of Channels and Key Markets: winning in fast-growing channels and markets worldwide including gaining share in alternative channels like Discount and Club in the U.S. and reaching the next level of distribution in China where the company's biscuits and gum products are now sold by 1.5 million and 1 million stores respectively.Investment in Global and Local Brands: continuing strong growth on global brands and meaningful growth on local jewels including in Russia where reigniting Jubilee and Dirol is contributing towards revenue growth and share gains.New Brand Playbook: enhancing the connection between the company's brands and consumers through increasingly purpose-driven marketing including a new activation of our Generosity campaign on Cadbury and encouraging consumers to \"Unleash the Strength from Within\" with our local jewel Biskuat in Indonesia.Marketing & Sales Excellence: continuing to demonstrate best-in-class commercial execution...