Mondelez International (MDLZ) Q3 2026 Earnings Report
MX:MDLZ Q3 2026 EPS Results
- Actual EPS
- MXN 14.47
- Consensus EPS
- MXN 13.30
- Beat/Miss
- Beat by +MXN 1.16
- One Year Ago EPS
- MXN 13.53
MX:MDLZ Q3 2026 Revenue Results
- Actual Revenue
- MXN 187.24B
- Expected Revenue
- MXN 187.55B
- Beat/Miss
- Missed by -MXN 307.32M
- YoY Revenue Growth
- +2.29%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- After Close
- Conference Call
- Thursday, October 29, 2026
MX:MDLZ Upcoming Earnings
Mondelez International's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:MDLZ Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly optimistic. Management reported solid volume, share and gross profit performance, maintained its 2026 outlook, expressed confidence in strong 2027 EPS growth and highlighted substantial emerging-market distribution opportunities and continued productivity gains. The main challenges were soft consumer conditions, European pricing comparisons, weather, Argentina, conflict-related costs and inflation in freight, fuel and other commodities.
Company Guidance
For '26, management is maintaining its top line outlook and EPS outlook, with positive volume growth in Europe expected to continue for the rest of the year; for quarter 4, it expects continued volume mix growth, strong gross profit and OI dollar growth, and to continue seeing the gross profit benefits from operating leverage, productivity and timing of cocoa. For '27, management remains confident in delivering strong EPS growth, driven by volume-led growth into the year, continued strength in the emerging markets, increased stabilization in Europe, continued momentum in North America and productivity savings, while negative price growth in Europe is expected to continue for the couple of quarters to come.
- Resilient Emerging-Market Performance and Distribution ExpansionManagement said consumer confidence is resilient in emerging markets, with India very positive, Latin America solid and snacking performing well across major markets. The company reported good volume growth and strong top-line growth, added about 130,000 outlets in India year-to-date, surpassed 1 million stores in Brazil and continues to see a long distribution runway in China.
- Broad-Based European Volume and Mix GrowthEurope delivered positive volume/mix growth of 1.6 percentage points, with improvement in share dynamics across the business. Management cited strong execution, advertising and consumer reinvestment, activations, and innovations such as Biscoff and Milka Croissant, and said positive volume growth is expected to continue for the rest of the year.
- North America Share Gains and Solid ExecutionManagement described North America as delivering solid growth despite a soft consumer. Performance was supported by improving shares, disciplined promotions, growth in under-indexed channels, increased advertising and consumer investment, and innovation across savory, candy and bars. Sour Patch Kids, Zbar, Oreo Zero, Ritz Minis and Clif High Protein were specifically cited as contributing positive momentum.
- Full-Year Outlook Maintained and 2027 EPS ConfidenceThe company maintained its full-year 2026 top-line and EPS outlook. Management remains confident in delivering strong EPS growth in 2027, supported by volume-led growth, continued strength in emerging markets, increased stabilization in Europe, continued North American momentum and productivity savings.
- Continued Reinvestment in Growth DriversManagement said any upside is being reinvested into the business, including innovation such as Biscoff, emerging markets and advertising and consumer investment. The company continued to invest in advertising and brand support during the quarter and expects to reinvest in the fourth quarter to drive volume-led growth into 2027.
- Effective North American Promotion and Pricing StrategyNorth America did not reduce prices but fine-tuned promotion depth and frequency to generate incrementality and reduce switching between regular and promotional prices. Management said gross profit dollars increased in North America, while selective pricing actions and continued productivity and supply-chain efforts are planned for 2027.
- Undercover Snacks Acquisition Expands Better-for-You PortfolioMondelez acquired a majority stake in Undercover Snacks, a gluten-free and allergy-friendly crispy quinoa snack brand with distribution in United Airlines, Whole Foods, Target and Walmart. Management said the brand is highly incremental, serves better-for-you and permissible-indulgence demand, and will remain a stand-alone unit within North American ventures. The deal is expected to close by early 2027, subject to closing conditions and regulatory approval.
- Favorable Cocoa Supply FundamentalsManagement expects the 2025-2026 cocoa cycle to end with a surplus of almost 0.5 million tons, described as a record level of surplus. Although the 2026-2027 cycle is currently projected to show a deficit of around 190,000 tons, management said existing surplus supply can absorb it. Industry coverage is around 9 months, and cocoa prices have remained largely range-bound.
- Improving Latin American Volume Trends Excluding ArgentinaManagement said the drag on Latin American volume is primarily Argentina, while volume/mix performance excluding Argentina has been positive. Non-chocolate volume/mix was about 4% to 5% in the last quarter, with positive performance in Mexico, Brazil and WACAM. Gum and candy, particularly Trident, delivered record-high share and penetration, supported by material investment and distribution gains.
- Strong Gross Profit DeliveryGross profit was stronger than the Street expected and helped fund reinvestment in advertising and brand support. Management attributed the performance to strong volume growth and operating leverage, supply-chain and procurement productivity, conversion savings, and the timing of lower cocoa costs. Strong gross profit and operating income dollar growth are expected in the fourth quarter.
- Significant Remaining Distribution RunwayManagement said the point-of-sale universe continues to grow in India, Southeast Asia and Latin America. In markets including China, India and Brazil, the company estimates it still has 25% numeric distribution to gain, in addition to opportunities to increase listed items per store and upgrade existing points of sale. India and China were cited as delivering growth north of 20%.
- Targeted Bolt-On M&A StrategyManagement reiterated that its M&A strategy centers on targeted bolt-ons to address geographic or category gaps. Potential transactions could range from smaller deals to approximately $0.5 billion and sometimes close to $1 billion in sales, while the company is not necessarily pursuing larger acquisitions.
MX:MDLZ Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 28, 2027 | 2026 (Q4) | 16.76- | 13.53 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | 13.3014.47 | 13.53 | 6.94% (+0.94) | |
| Jul 28, 2026 | 2026 (Q2) | 12.7713.71 | 13.71 | 0.00% (+0.00) | |
| Apr 28, 2026 | 2026 (Q1) | 11.4211.84 | 13.9 | -14.86% (-2.07) | |
| Feb 03, 2026 | 2025 (Q4) | 13.0813.53 | 12.21 | 10.77% (+1.32) | |
| Oct 28, 2025 | 2025 (Q3) | 13.3913.53 | 18.6 | -27.27% (-5.07) | |
| Jul 29, 2025 | 2025 (Q2) | 12.7213.71 | 16.16 | -15.12% (-2.44) | |
| Apr 29, 2025 | 2025 (Q1) | 12.2913.90 | 17.85 | -22.11% (-3.95) | |
| Feb 04, 2025 | 2024 (Q4) | 12.3612.21 | 15.78 | -22.62% (-3.57) | |
| Oct 29, 2024 | 2024 (Q3) | 15.9718.60 | 15.78 | 17.86% (+2.82) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed