Mondelez International (MDLZ) Q3 2026 Earnings
How Did MDLZ Stock React to Q3 2026 Earnings?
Did MDLZ Beat Earnings? Q3 2026 Results
Yes. Mondelez International reported Q3 2026 earnings of $0.78 a share on Oct 29, 2026, beating the $0.71 consensus estimate by 10.2%. Revenue was $10.0B against a $10.0B estimate.
Mondelēz International posted a strong third quarter for fiscal 2026, with adjusted EPS of $0.78 beating the $0.71 consensus estimate by 10.19%, extending the snack giant's streak of consensus EPS beats to five consecutive quarters. The profitability outperformance was driven primarily by a sharp improvement in input costs, with adjusted gross margin widening 380 basis points to 34.2% as lower raw material prices, manufacturing productivity gains, and favorable volume mix all contributed. Revenue of $9.97 billion rose 2.3% year over year and came in just 0.24% below the $9.99 billion consensus, a negligible gap given the breadth of organic growth across regions; AMEA led the way at 7.7% organic growth while emerging markets collectively grew 4.1%. The quarter unfolded against a backdrop of cautious consumer sentiment weighing on some packaged food peers, making Mondelēz's volume-led gains particularly notable. Looking ahead, management reaffirmed full-year guidance for organic net revenue growth of at least 2% and adjusted EPS growth of flat to 5% at constant currency, with free cash flow targeted at approximately $3.00 billion.
- Organic Net Revenue growth of 2.1%, driven by 1.8pp volume/mix and 0.3pp pricing
- Lower raw material costs and productivity-driven manufacturing savings lifted Adjusted Gross Profit margin 380bps to 34.2%
- Adjusted Operating Income margin up 190bps to 13.9%
- Favorable year-over-year mark-to-market swing from commodity and currency derivatives ($543M gain vs $348M loss) boosted reported results
- AMEA organic growth of 7.7% with 5.5pp volume/mix; Adjusted Operating Income up 30.1% at constant currency
- Latin America organic growth of 6.9%, driven by 6.1pp pricing
- Europe organic revenue down 2.1% on 3.7pp lower pricing, though Adjusted Operating Income rose 55.3% at constant currency
- North America organic growth of 1.6% from pricing, with Adjusted Operating Income down 6.4%
- Emerging markets organic growth of 4.1% vs 0.8% in developed markets
- Fewer shares outstanding (1,280M diluted vs 1,296M) supported Adjusted EPS
- Higher adjusted effective tax rate (27.0% vs 19.5%), higher interest expense and higher A&CP and SG&A spending were partial offsets
“We delivered strong third-quarter results, driven by broad based volume growth and robust share performance. We continue to see top- and bottom-line growth momentum across both developed and emerging markets, while significantly reinvesting in our brands, innovation, and distribution.”
Mondelez International CEO, on the earnings call
What Is Mondelez International's Outlook?
For 2026, Mondelēz reaffirmed Organic Net Revenue growth of at least 2% and Adjusted EPS growth of flat to 5% on a constant currency basis. It expects Free Cash Flow of approximately $3 billion. Currency translation is estimated to increase 2026 net revenue growth by approximately 1.5% and Adjusted EPS by $0.04. The outlook is provided amid greater-than-usual volatility, including geopolitical, trade, regulatory and commodity price uncertainty, and does not reflect any potential tariff changes to USMCA-compliant trade.
MDLZ YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $10.0B | $9.7B | +2.3% |
| Gross Profit | $3.9B | $2.6B | +50.2% |
| Operating Income | $1.8B | $744.0M | +136.3% |
| Net Income | $1.3B | $743.0M | +75.6% |
MDLZ Revenue by Segment
MDLZ Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.