MDLZ Q3 2025 Earnings
Reported Oct 28, 2025 at 4:09 PM ET · SEC Source
Q3 25 EPS
$0.73
BEAT +2.95%
Est. $0.71
Q3 25 Revenue
$9.74B
BEAT +0.63%
Est. $9.68B
vs S&P Since Q3 25
+4.3%
BEATING MARKET
MDLZ +11.0% vs S&P +6.7%
Market Reaction
Did MDLZ Beat Earnings? Q3 2025 Results
Mondelēz International posted a mixed but technically better-than-expected third quarter, with adjusted EPS of $0.73 edging past the $0.71 consensus estimate by 2.95% even as the figure marked a sharp 24.2% decline on a constant-currency basis from t… Read more Mondelēz International posted a mixed but technically better-than-expected third quarter, with adjusted EPS of $0.73 edging past the $0.71 consensus estimate by 2.95% even as the figure marked a sharp 24.2% decline on a constant-currency basis from the prior year. Revenue of $9.74 billion, up 5.9% year-over-year and modestly ahead of the $9.68 billion consensus, masked a painful underlying story: record cocoa cost inflation drove gross margin down 580 basis points to 26.8% and compressed adjusted operating margin by 690 basis points to 12.0%, as the company leaned heavily on 8.0 points of pricing to offset surging input costs, triggering a 4.6-point volume and mix decline as consumers across developed and emerging markets pulled back. The dynamic echoes broader pressure felt across the packaged food sector, where peers have similarly flagged demand softness tied to pricing-driven consumer resistance. Looking ahead, Mondelēz now guides for full-year organic revenue growth of 4% or more and adjusted EPS declining roughly 15% on a constant-currency basis, with management pointing to signs of cocoa price moderation as a potential tailwind into 2026.
Key Takeaways
- • Record-high cocoa cost inflation, with Q3 representing peak costs of the year
- • Higher net pricing of 8.0 percentage points drove organic revenue growth
- • Unfavorable volume/mix of -4.6 percentage points across all segments
- • Adjusted gross profit margin declined 1,010 basis points to 30.4% due to higher raw material and transportation costs
- • Lower manufacturing costs driven by productivity partially offset input cost inflation
- • Acquisition of Evirth contributed incremental net revenue
- • Favorable currency-related items contributed to reported revenue growth
MDLZ YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
MDLZ Revenue by Segment
With YoY comparisons, source: SEC Filings
MDLZ Revenue by Geography
With YoY comparisons, source: SEC Filings
“We delivered solid top-line growth despite the impact of record-high cocoa cost inflation, with the third quarter representing peak costs of the year. Although we anticipate challenging conditions to continue in some markets, we are encouraged by recent moderation in cocoa prices, as well as promising signs for a strong cocoa crop this fall. Our teams are focused on executing clear plans for volume improvement, significantly increasing growth investments, and driving meaningful cost efficiencies. We remain confident in our teams' proven track record of navigating volatility, as well as our strong business fundamentals, which position us well for next year and beyond.”
— Dirk Van de Put, Q3 2025 Earnings Press Release
MDLZ Earnings Trends
MDLZ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MDLZ EPS Trend
Earnings per share: estimate vs actual
MDLZ Revenue Trend
Quarterly revenue: estimate vs actual
MDLZ Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.61 | $0.67 | +10.22% | $10.08B | +3.46% |
| Q4 25 BEAT FY | $0.70 | $0.72 | +3.34% | $10.50B | +2.01% |
| FY Full Year | — | $2.92 | — | $38.54B | — |
| Q3 25 BEAT | $0.71 | $0.73 | +2.95% | $9.74B | +0.63% |
| Q2 25 BEAT | $0.68 | $0.73 | +7.69% | $8.98B | +1.71% |