Mondelez (MDLZ) Tops Q2 EPS by 3c

Mondelez (NASDAQ: MDLZ) reported Q2 EPS of $0.67, $0.03 better than the analyst estimate of $0.64. Revenue for the quarter came in at $7.27 billion versus the consensus estimate of $6.8 billion.

2022 Outlook:
Mondelēz International provides its outlook on a non-GAAP basis, as the company cannot predict some elements that are included in reported GAAP results, including the impact of foreign exchange. Refer to the Outlook section in the discussion of non-GAAP financial measures below for more details.

The company is updating its fiscal 2022 outlook to reflect expectations for continued top-line growth, higher cost of goods sold inflation, the timing effect of additional pricing actions and the impact of the war in Ukraine.

For 2022, the company now expects 8+ percent Organic Net Revenue growth, which reflects the strength of its first half and higher pricing related to increased input costs. The company's expectation of mid-to-high single digit Adjusted EPS growth on a constant currency basis remains unchanged. The company's Free Cash Flow outlook remains at $3+ billion. The company estimates currency translation would decrease 2022 net revenue growth by approximately 5 percent3 with a negative $0.22 impact to Adjusted EPS3.

Outlook is provided in the context of greater than usual volatility as a result of COVID-19 and geopolitical uncertainty.

For earnings history and earnings-related data on Mondelez (MDLZ) click here.

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