Q3 2024 Mondelez International Inc Earnings Call Transcript
Key Points
- Mondelez International Inc (MDLZ) delivered strong top line growth with a 5.4% increase in organic net revenue for the quarter.
- The company reported a significant adjusted EPS growth of 28.6% for the quarter.
- Developed markets showed recovery with solid revenue growth, particularly in North America and Europe.
- Mondelez expanded its presence in the fast-growing cakes and pastries category by acquiring a majority stake in Evirth, a leading player in China.
- The company generated $2.5 billion in free cash flow year-to-date, demonstrating robust financial health.
- Mondelez International Inc (MDLZ) faces challenges due to the anticipated cocoa cost headwinds, which are expected to pressure margins.
- The company anticipates some upticks in elasticity in certain markets, which may require more aggressive revenue growth management and promotions.
- Volume mix in emerging markets declined by 1% due to Western brand boycotts in AMEA and lower volumes in Mexico.
- The company expects it will be difficult to achieve EPS growth in 2025 unless cocoa prices adjust down or elasticities are more benign.
- Latin America showed a deceleration in volume growth, particularly driven by challenges in Mexico.
Good day and welcome to the Mondelez International third quarter 2024 earnings conference call. Today's call is scheduled to last about one hour including remarks by Mondelez management and the question and answer session. (Operator Instructions)
I would now like to turn the call over to Mr. Shep Dunlap, Senior Vice President, Investor Relations for Mondelez. Please go ahead, sir.
Good afternoon and thank you for joining us. With me today are Dirk Van De Put, our Chairman and CEO; and Luca Zaramella, our CFO. Earlier today, we sent out our press release and presentation slides which are available on our website. During this call, we'll make forward-looking statements about the company's performance. These statements are based on how we see things today.
Actual results may differ materially due to risks and uncertainties. Please refer to the cautionary statements and risk factors contained enter 10-K, 10-Q and 8-K filings for more details on our forward-looking
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