Mondelēz International, Inc. (NASDAQ: MDLZ) reported its fourth quarter and full year 2024 results, indicating a 1.2% increase in net revenues and a 4.3% growth in organic net revenues. The company's fiscal year 2024 diluted earnings per share (EPS) declined by 5.5% to $3.42, while adjusted EPS on a constant currency basis increased by 13.0% to $3.36.
In terms of operating income, the company witnessed a 35.0% increase in the fourth quarter, reaching $1.611 billion, and a 15.3% increase for the full year, amounting to $6.345 billion. Net earnings for the fourth quarter surged by 83.7% to $1.745 billion, and for the full year, they experienced a 7.1% growth, reaching $4.611 billion.
The company returned $4.7 billion to shareholders in cash dividends and share repurchases.
Looking at the net revenue breakdown, in the fourth quarter, Latin America experienced a 7.2% decrease, while Asia, Middle East & Africa saw a 9.9% increase. For the full year, Latin America reported a 1.6% decrease, and Asia, Middle East & Africa reported a 3.1% increase.
The company provided an outlook for 2025, expecting organic net revenue growth of approximately 5% and adjusted EPS to decline by around 10% on a constant currency basis, attributed to unprecedented cocoa cost inflation. Additionally, the company estimates 2025 free cash flow to be $3+ billion.
Mondelēz International, Inc. is a global snacking powerhouse, with 2024 net revenues of approximately $36 billion, and a portfolio including iconic brands such as Oreo, Ritz, Cadbury Dairy Milk, and others.
The company will host a conference call for investors with accompanying slides to review its results at 5 p.m. ET today, with a listen-only webcast provided at www.mondelezinternational.com. The market has reacted to these announcements by moving the company's shares -2.2% to a price of $56.12. For more information, read the company's full 8-K submission here.
