Mondelez Reports Q2 Beat, Provides 2022 Outlook and Raises Dividend
2022.07.27 02:34
Mondelez (MDLZ) Reports Q2 Beat, Provides 2022 Outlook and Raises Dividend
By Davit Kirakosyan
Mondelez (NASDAQ:MDLZ) reported its Q2 results, with EPS coming in at $0.67, better than the consensus estimate of $0.64. Revenue was $7.27 billion, compared to the consensus estimate of $6.8 billion.
“Our second quarter and first half results were marked by strong top and bottom-line performance across all regions and categories, supporting the raising of our full-year revenue growth outlook,” said Dirk Van de Put, Chairman and Chief Executive Officer. “Our chocolate and biscuit businesses continue to demonstrate strong volume growth and pricing resilience across both developed and emerging markets. These results combined with ongoing cost discipline, simplification and revenue growth management are delivering robust profit dollar growth and strong cash flow, enabling us to increase our dividend by 10 percent.”
The company expects over 8% organic net revenue growth in 2022, which reflects the strength of H1 and higher pricing related to increased input costs. The company reiterated its expectation of mid-to-high single-digit adjusted EPS growth on a constant currency basis and its free cash flow outlook of $3+ billion.
