Mondelez (MDLZ) slides despite topping Q4 earnings estimates

Mondelez (NASDAQ: MDLZ) posted Q4 earnings and revenue that beat Wall Street’s estimates.

Notably, the beverage and snack food maker posted earnings per share (EPS) of $0.84 in the quarter, beating the consensus projection of $0.78. Revenue came in at $9.32 billion, while analysts were looking for $9.3 billion.

During the full year, net revenues rose by 14.4%, propelled by a 14.7% increase in organic net revenue.

Despite beating estimates for top and bottom lines, MDLZ fell 4% in after-hours trading.

For the fiscal 2024, the company expects organic net revenue growth in the range of 3% to 5%. Free cash flow (FCF) for the year is anticipated to grow by more than $3.5 billion.

“Our 2023 results underscore the strength of our execution, the importance of our investments and the resiliency of our portfolio, footprint, categories, and brands,” said Mondelez’s CEO Dirk Van de Put.

“We delivered double-digit top-line and earnings growth for the year, leading to strong cash flow generation and capital return to shareholders. Our growth was balanced across developed and emerging markets, with robust performance in all regions.”

By Vahid Karaahmetovic

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