Mondelez International Reports Decrease in Earnings

By Bobby Samwell • Thursday, January 16 06:07 • Permanent Link

Mondelēz International, Inc. reported its financial results for the nine months ended September 30, 2024, and the corresponding period in 2023. The company's reported (GAAP) net earnings for the nine months ended September 30, 2024, were $2,866 million, with diluted earnings per share (EPS) of $2.12. In comparison, for the same period in 2023, reported net earnings were $4,009 million, with diluted EPS of $2.92.

Adjusting for various non-GAAP items, Mondelēz International's non-GAAP net earnings for the nine months ended September 30, 2024, were $3,653 million, with diluted EPS of $2.71. This is a decrease from the non-GAAP net earnings of $3,106 million and diluted EPS of $2.26 for the same period in 2023.

For the three months ended September 30, 2024, the reported (GAAP) net earnings were $853 million, with diluted EPS of $0.63. In comparison, for the same period in 2023, reported net earnings were $984 million, with diluted EPS of $0.72.

Adjusting for non-GAAP items, the non-GAAP net earnings for the three months ended September 30, 2024, were $1,277 million, with diluted EPS of $0.95. This is a decrease from the non-GAAP net earnings of $1,029 million and diluted EPS of $0.75 for the same period in 2023.

The company also provided reconciliations of GAAP to non-GAAP measures for the three months ended June 30, 2024, and the corresponding period in 2023, as well as for the three months ended March 31, 2024, and the corresponding period in 2023.

It's important to note that the company's effective tax rate for the nine months ended September 30, 2024, was 26.0%, compared to 27.1% for the same period in 2023. For the three months ended September 30, 2024, the effective tax rate was 26.0%, compared to 26.6% for the same period in 2023.

These figures illustrate the changes in Mondelēz International's financial performance over the specified periods and provide insights into the company's profitability and earnings per share. The market has reacted to these announcements by moving the company's shares -0.8% to a price of $56.64. For the full picture, make sure to review Mondelez International's 8-K report.

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