Q3 2025 Mondelez International Inc Earnings Call Transcript
Key Points
- Mondelez International Inc (MDLZ) reported strong performance in its biscuits, cakes, pastries, and meals business in Europe, with share and volume/mix growth.
- The company is innovating with new flavors and formats, investing more in advertising and consumer (A&C), and driving seasonal products to improve market performance.
- Emerging markets continue to show growth potential, with strong performance in countries like Brazil and Mexico.
- Mondelez International Inc (MDLZ) is expanding its presence in value, club, and online channels in North America, which are showing increasing market share.
- The company is implementing a new multiyear North America supply chain program to address cost and capacity constraints, aiming for meaningful impact by 2027.
- Mondelez International Inc (MDLZ) faced higher-than-expected price elasticity in Europe, with elasticity around 0.7 to 0.8, compared to the anticipated 0.4 to 0.5.
- The company experienced a material destocking in the US due to retailers lowering their working capital, impacting volumes.
- A heatwave in Europe negatively affected volumes, alongside significant downsizing efforts.
- The US biscuits category is under pressure, with a decline in volume and consumer concerns about the economy affecting sales.
- Mondelez International Inc (MDLZ) is facing challenges in China, with low-single-digit negative growth in Q3, attributed to low consumer confidence.
Good afternoon, and welcome to the Mondelez International 2025 third-quarter earnings question-and-answer session. (Operator Instructions)
On today's call are Dirk Van de Put, Chairman and CEO; Luca Zaramella, CFO; and Shep Dunlap, SVP of Investor Relations.
Earlier this afternoon, the company posted a press release and prepared remarks, both of which are available on its website.
During this call, the company will make forward-looking statements about performance. These statements are based on how the company sees things today. Actual results may differ materially due to risks and uncertainties. Please refer to the cautionary statements and risk factors conained in the company's 10-K, 10-Q, and 8-K filings for more details on forward-looking statements.
As the company discusses results today, unless noted as reported, it will be referencing non-GAAP financial measures, which adjust for certain items included in the company's GAAP results. In addition, the company provides year-over-year growth on a constant currency basis unless otherwise noted.
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