Mondelez International, Inc. (MDLZ) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the Mondelez International 2025 Fourth Quarter and Full Year Earnings Question and Answer Session. Your lines have been placed on listen only until it's your turn to ask a question. In order to ask a question, please press the star key followed by the number one on your touchtone phone at any time. To remove yourself from the queue, press star two. On today's call are Dirk Van de Putt, Chairman and CEO, Luca Zaramella, COO and CFO, and Shep Dunlap, SVP of Investor Relations. Earlier this afternoon, the company posted a press release and prepared remarks, both of which are available on its website. During this call, the company will make forward-looking statements about performance. These statements are based on how the company sees things today. Actual results may differ materially due to risks and uncertainties. Please refer to the cautionary statements and risk factors contained in the company's 10-K, 10-Q, and 8-K filings for more details on forward-looking statements. As the company discusses results today, unless noted as reported, it will be referencing non-GAAP financial measures which adjust for certain items included in the company's GAAP results. In addition, the company provides year-over-year growth on a constant currency basis, unless otherwise noted. You can find the comparable GAAP measures and GAAP to non-GAAP reconciliations within the company's earning release and at the back of the slide presentation. We will now move to our first question. Our first question comes from the line of Andrew Lazar with Barclays. Please go ahead. Great. Thanks very much. Good afternoon, everybody. Hi, Andrew. Hey there. Derek, maybe to start us off, clearly significant interest in obviously the chocolate category and how the precipitous f...