Mondelēz International reports strong Q2 2026 results boosted by North America
Mondelēz International attributed the performance to strong execution across its global operations, continued brand investment, and disciplined cost management.
USA – Mondelēz International reported strong financial results for the second quarter ended June 30, 2026, delivering top-line revenue growth and resilient consumer demand across key geographic markets.
The manufacturer of iconic brands including Oreo, Cadbury, Ritz, Toblerone, and Clif Bar posted consolidated net revenues of US$9.36 billion, representing a 4.1% increase compared to the prior-year period.
Organic net revenue grew 2.2%, driven by a combination of 1.5 percentage points in net pricing adjustments and a 0.7 percentage point contribution from positive volume and product mix.
Performance was anchored by broad-based strength in emerging markets, which account for approximately 40% of Mondelēz’s total revenues.
Emerging market organic sales expanded 4.4% in the quarter, with volume/mix adding 1.6 percentage points.
Regionally, Latin America led organic growth with an 8.4% increase, while the Asia, Middle East, and Africa (AMEA) region recorded a 7.1% organic gain.
Developed markets generated sequential improvements, headlined by North America, where net revenue rose 3.4% on positive volume/mix growth of 1.2 percentage points.
Conversely, organic revenue in Europe declined 3.5% amid lingering regional volume and pricing pressures, though management noted early signs of market share recovery in core chocolate categories.
Across core categories, Biscuits and Baked Snacks, representing nearly half of total corporate sales, delivered 2.5% organic net revenue growth.
Chocolate sales advanced 7.6% organically, supported by distribution gains and pricing execution. Adjusted gross profit reached US$3.1 billion, up 3.0% on a constant currency basis, as productivity savings and pricing offset input cost inflation.
However, adjusted operating income fell 6.1%, and adjusted EPS slipped 2.7% to US$0.73, primarily reflecting elevated cocoa input costs and intentional increases in brand marketing, advertising, and commercial capabilities. On a reported basis, diluted EPS surged 144.9% to US$1.20, buoyed by derivative valuation adjustments.
Building on its first-half momentum, Mondelēz raised its full-year 2026 organic net revenue growth outlook to “at least 2%,” while maintaining its guidance for adjusted EPS growth in the flat to 5% range and full-year free cash flow of approximately US$3 billion.
The company also increased its quarterly dividend by 4% and reported returning US$1.5 billion to shareholders through dividends and share repurchases during the first six months of the year.
Chair and CEO Dirk Van de Put stated that volume-driven expansion in emerging markets and operational execution in North America position the group well to navigate ongoing global macroeconomic shifts.
Mondelēz continued investing in product innovation during the quarter to address changing consumer preferences.
The company expanded offerings such as zero-sugar and gluten-free Oreo products while increasing the availability of smaller pack sizes to appeal to value-conscious shoppers.
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