Mondelez International (MDLZ) Q4 2025 Earnings
How Did MDLZ Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −1.15%.
Did MDLZ Beat Earnings? Q4 2025 Results
Yes. Mondelez International reported Q4 2025 earnings of $0.72 a share on Feb 3, 2026, beating the $0.70 consensus estimate by 3.3%. Revenue was $10.5B against a $10.3B estimate.
Mondelēz International closed out fiscal 2025 on a note of cautious resilience, beating Wall Street expectations on both the top and bottom lines despite the heaviest cocoa cost pressures in the company's recent history. Fourth-quarter adjusted EPS of $0.72 edged past the $0.70 consensus estimate by 3.34%, while revenue of $10.50 billion topped forecasts by 2.01% and grew 9.3% year over year, fueled by aggressive net pricing of nearly 10 percentage points that more than offset a 4.8-point drag from volume and mix. The pricing-over-volume trade-off, a recurring theme as cocoa inflation squeezed margins throughout the year, remained the central tension in results; full-year adjusted gross profit margin still fell 580 basis points to 32.0% even on an adjusted basis. Europe was the quarter's standout segment, with reported revenue climbing 17.3% to $4.39 billion, while North America slipped 0.6%. Looking ahead, management issued a deliberately measured 2026 outlook, guiding for organic revenue growth of flat to 2% and adjusted EPS growth of flat to 5% on a constant currency basis, citing greater than usual volatility across geopolitical, trade, and commodity environments.
- Higher net pricing drove Organic Net Revenue growth of 5.1% in Q4 and 4.3% for the full year
- Unprecedented cocoa cost headwinds significantly impacted profitability
- Unfavorable year-over-year change in mark-to-market impacts from commodity and foreign currency derivatives
- Volume/mix declined 4.8 pp in Q4 and 3.7 pp for the full year
- Lower advertising and consumer promotion costs supported adjusted operating income
- Lower manufacturing costs driven by productivity gains
- Pension plan buyout settlement losses weighed on full-year results
- Incremental revenue from Evirth acquisition
“We delivered solid top-line results, generated strong cash flow, and returned significant cash to shareholders in a dynamic and challenging 2025 environment. While unprecedented cocoa cost headwinds impacted our profitability, our teams remained focused on what they can control to best position us for sustainable, profitable growth.”
Mondelez International CEO, on the earnings call
What Was Mondelez International's Outlook in Q4 2025?
For 2026, Mondelēz expects Organic Net Revenue growth in the range of flat to 2% and Adjusted EPS growth of flat to 5% on a constant currency basis. The company expects 2026 Free Cash Flow of approximately $3 billion. Currency translation is estimated to increase 2026 net revenue growth by approximately 2.0% and increase Adjusted EPS by $0.06. The outlook is provided in the context of greater than usual volatility, including geopolitical, trade, regulatory uncertainty and commodity prices, and does not reflect any potential tariff changes to USMCA-compliant trade.
MDLZ YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $10.5B | $9.6B | +9.3% |
| Gross Profit | $3.0B | $3.7B | −20.3% |
| Operating Income | $952.0M | $1.6B | −40.9% |
| Net Income | $665.0M | $1.7B | −61.9% |
MDLZ Revenue by Segment
MDLZ Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.