Companies /Consumer Defensive

Mondelez International Inc - Class A

NASDAQ: MDLZ Confectioners
$62.43
▼ $0.58 (−0.92%) today
Markets closed · 3:28am ET

Q1 2026 Earnings

Reported Apr 28, 2026, 4:07pm ET · SEC source
$0.67
Beat +10.22%
EPS · est. $0.61
$10.1B
Beat +3.46%
Revenue · est. $9.7B
−6.6%
Trailing market
MDLZ vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0+2%+4%Apr 28Apr 29report 4:07pm ETearnings+0.2%+1.4%
−2%0+2%+4%Apr 28Apr 29earnings+0.2%+1.4%
MDLZ +1.4%S&P 500 +0.2%
−2%0+2%+4%Apr 28Apr 29report 4:07pm ETearnings+1.2%+1.4%
−2%0+2%+4%Apr 28Apr 29earnings+1.2%+1.4%
MDLZ +1.4%NASDAQ +1.2%
−3%0+3%Apr 27May 6report 4:07pm ETearnings+3.1%+3.1%
−3%0+3%Apr 27May 6earnings+3.1%+3.1%
MDLZ +3.1%S&P 500 +3.1%
−3%0+3%+6%Apr 27May 6report 4:07pm ETearnings+5.7%+3.1%
−3%0+3%+6%Apr 27May 6earnings+5.7%+3.1%
MDLZ +3.1%NASDAQ +5.7%
+4.27%
Day of report
+0.66%
Next session
+1.36%
One week
+0.02%
30 days

S&P 500 over the same 30 days: +6.60%.

Did MDLZ Beat Earnings? Q1 2026 Results

Mondelez International posted a stronger-than-expected first quarter for fiscal 2026, delivering earnings per share of $0.67 against a consensus estimate of $0.61, a beat of 10.22%, while revenue of $10.08 billion cleared analyst forecasts by 3.46% and rose 8.2% year over year. The headline growth, however, masked a more complicated story beneath the surface: organic net revenue expanded just 3.0%, driven almost entirely by 3.5 percentage points of pricing as volume and mix slipped 0.5 percentage points, a pattern that analysts have pointed to as evidence of brand resilience in a persistently inflationary environment. Cocoa cost pressures were the single most material drag, contributing to a 310-basis-point contraction in adjusted operating margin to 11.7% and a 19.0% constant-currency decline in adjusted operating income to $1.11 billion. Despite those profitability headwinds, management reaffirmed its full-year 2026 outlook for organic net revenue growth of flat to 2%, adjusted EPS growth of flat to 5% on a constant-currency basis, and free cash flow of approximately $3 billion, though the guidance explicitly excludes potential tariff changes to USMCA-compliant trade.

Key Takeaways
  • Organic Net Revenue growth of 3.0% driven by 3.5pp of higher net pricing partially offset by -0.5pp unfavorable volume/mix
  • Strong Emerging Markets organic growth of 6.3% with positive volume/mix of 0.5pp
  • AMEA segment led organic growth at 11.3% with 5.8pp favorable volume/mix
  • Higher input cost inflation, particularly cocoa, pressured margins significantly
  • Favorable year-over-year change in mark-to-market impacts from commodity and foreign currency derivatives boosted reported results
  • Increased advertising and consumer promotion spending and higher SG&A expenses weighed on adjusted profitability
  • Lower manufacturing costs driven by productivity partially offset cost headwinds

“We posted solid first quarter results led by strong top-line growth in our Emerging Markets while Developed Market growth showed signs of improvement. These results reflect strong execution of our consumer-centric strategy supported by increased investments behind our brands and growth platforms despite ongoing macro volatility.”

Mondelez International CEO, on the earnings call

Forward Guidance & Outlook

Mondelēz reaffirmed its 2026 full-year guidance: Organic Net Revenue growth in the range of flat to 2%, Adjusted EPS growth of flat to 5% on a constant currency basis, and Free Cash Flow of approximately $3 billion. The company estimates currency translation would increase 2026 net revenue growth by approximately 2.0% and increase Adjusted EPS by $0.06. 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

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$3.0B$6.0B$9.0B$9.3B$10.1BRevenue$2.4B$2.8BGross Profit$680.0M$808.0MOperating Income$402.0M$560.0MNet Income
$0$3.0B$6.0B$9.0BRevenueGross ProfitOperating IncomeNet Income

MDLZ Revenue by Segment

Europe$3.9B+9.0%
North America$2.6B+0.5%
AMEA$2.3B+14.3%
Asia, Middle East & Africa
Latin America$1.3B+12.1%

MDLZ Revenue by Geography

Europe$3.9B+9.0%
North America$2.6B+0.5%
Asia Pacific$2.3B+14.3%
Latin America$1.3B+12.1%

Figures from SEC filings and company reports. Not investment advice.