Mondelez Stock ( NASDAQ:MDLZ )
Mondelez International, Inc. ( NASDAQ:MDLZ ) stock rose more than 1% with the release of impressive fourth-quarter 2022 results . The top and bottom lines grew year over year and above the consensus estimate.
Results from its snacking products’ stability, brand strength, broad-based growth across geographies, categories, and brands, ongoing strength in emerging and developed countries, and gains from recent acquisitions.
Mondelez stock has risen 5.8% in the last three months, outperforming the industry’s 0.1% rise.
Mondelez announced the sale of its developed market gum business to Perfetti Van Melle during the quarter. This move will help it fund recent acquisitions and reorganize its portfolio. It also aims to sell the Halls company soon.
Key Results
Adjusted earnings per share were 73 cents, up 2.8% year on year and 9.9% in constant currency (cc). The figure outperformed the Consensus Estimate of 71 cents per share. The year-over-year increase was supported by lower outstanding shares and solid operating gains. This was somewhat offset by higher taxes, higher interest expenditures, and lower income from equity method investments.
Net revenues increased 13.5% to $8,695 million, exceeding the $8,373 million consensus estimate. The rise was driven by 15.4% organic net revenue growth and increased sales from the Chipita, Clif Bar, and Ricolino acquisitions, which were partially offset by currency challenges. Organic net revenues were boosted by favorable volumes and pricing.
Revenue from...
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