Mondelez International 8-K
EarningsGuidance reaffirmed
A favorable derivative mark-to-market swing lifted GAAP EPS, while higher raw material and marketing costs squeezed adjusted earnings.
Filed 2026-07-28 16:09 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results and FY2026 outlook. Revenue grew 4.1%, including 2.2% organic growth, while adjusted EPS declined 2.7% on a constant-currency basis. GAAP EPS rose sharply, primarily reflecting a favorable year-over-year swing in derivative mark-to-market impacts, along with lower pension participation charges and initial impacts from enacted tax law changes.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Net revenue | $9.36B | $8.98B | 4.1% |
| Operating income | $1.95B | $1.17B | 66.0% |
| Net earnings attributable to Mondelēz International | $1.55B | $641M | 142% |
| Diluted EPS | $1.20 | $0.49 | 145% |
| Adjusted EPS, non-GAAP | $0.73 | $0.73 | (2.7)% constant currency |
- Organic net revenue growth was 2.2%, driven by higher pricing and favorable volume/mix; volume/mix contributed 0.7 percentage points. Adjusted operating income declined 6.1% on a constant-currency basis, primarily reflecting higher raw material costs, selling, general and administrative expenses, and advertising and consumer promotion costs.
- YTD net earnings attributable to Mondelēz International were $2.11B vs $1.04B, up 102.1%; operating cash flow was $1.32B vs $1.40B, down 5.6%, and free cash flow was $668M vs $818M, down 18.3%.
- YTD shareholder capital returns were $1.5B. Share repurchases were $212M vs $1.65B; diluted average shares outstanding were 1.286B vs 1.301B. The company announced a 4% increase to its quarterly dividend.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Organic net revenue growth, non-GAAP | FY2026 | At least 2% | — | — |
| Adjusted EPS growth, non-GAAP, constant currency | FY2026 | Flat to 5% | — | Reaffirmed |
| Free cash flow, non-GAAP | FY2026 | ≈$3B | — | — |
| Currency translation impact on net revenue growth | FY2026 | ≈+2.0% | — | — |
| Currency translation impact on adjusted EPS | FY2026 | +$0.05 | — | — |
Investor Takeaways
- Watch whether the company delivers at least 2% FY2026 organic net revenue growth, flat-to-5% adjusted EPS growth on a constant-currency basis, and ≈$3B of free cash flow; the outlook excludes potential changes to tariffs on USMCA-compliant trade.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3