Feed - Buzzberg

21:00
Jul 28 ◎

MDLZ FY2026 Q2 Watch

Mondelez International, Inc. (MDLZ) FY2026 Q2 Earnings Call

MDLZ ▾

Dirk Van de Put

Management raised its top-line guidance, citing sustained momentum in emerging markets, improving North America execution, and a stabilizing Europe, while reiterating its full-year EPS outlook due to planned reinvestment.

"We're expecting a very strong second half in North America."

MDLZ WATCH

HIGH

21:00
Apr 28 ◎

MDLZ FY2026 Q1 Watch

Mondelez International, Inc. (MDLZ) FY2026 Q1 Earnings Call

WMT COST MDLZ ▾

Dirk van der Putt

Walmart and Costco are outperforming the broader US biscuit market in terms of category growth, indicating a channel shift benefiting these retailers.

"For instance, Walmart, the value channel, and Costco saw biscuits grow over 4% versus the total U.S. biscuit market, which was only 0.3% up."

WMT WATCH

Dirk van der Putt

Costco is a key growth channel for biscuits, growing significantly faster than the overall US biscuit market.

"For instance, Walmart, the value channel, and Costco saw biscuits grow over 4% versus the total U.S. biscuit market, which was only 0.3% up."

COST WATCH

Luca Zaramella

Mondelez is ahead of expectations in Q1 but is maintaining full-year EPS guidance due to unplanned headwinds from the Middle East crisis, balancing strong momentum with increased costs.

"So look, I think it's fair to say we are ahead of expectation in Q1, but on the reminder of the year, while we continue to be cautiously optimistic, we need also to address some headwinds that we didn't have in our original forecast,"

MDLZ WATCH

HIGH

22:00
Feb 03 ◎

MDLZ FY2025 Q4 Watch

Mondelez International, Inc. (MDLZ) FY2025 Q4 Earnings Call

MDLZ GIS K SJM ▾

Luca Zaramella

Management's 2026 guidance is deliberately cautious with an organic sales outlook of 0-2%, reflecting subdued U.S. biscuit demand, European chocolate disruption risks, and potential competitive reactions to a sudden cocoa price drop.

"The guiding principle of the guidance was to be prudent, particularly as we see some short-term pressure points, like in the U.S."

MDLZ WATCH

Dirk Van de Putt

Mondelez explicitly downplays the recent price cut signal from 'another company' (likely Kellanova/General Mills) in the U.S., arguing that its own aggressive promotional strategy in 2025 failed to yield returns; instead, it will focus on volume-driving activations and premium 'better-for-you' brands. — The pricing war in U.S. snacking is likely to be less aggressive than a competitor's headline cut suggests, as MDLZ is signaling it won't follow suit on broad price cuts, preferring to defend margin while competitors may lose share if they don't match.

"We started off 25 and were quite aggressive on promotions and on deals, working on price. I have to say, it didn't give us a return on our investment. So in the second half of 25, we changed our strategy."

GIS WATCH K WATCH

Dirk Van de Putt

The U.S. consumer is in a 'K-shaped' recession for snacking: the average shopping basket hasn't grown in 2-3 years, and consumers are prioritizing 'basics' (milk, meat, bread) over discretionary snacks, with U.S. biscuit category volumes down -4% in the last three months. — The demand environment within snacking is diverging: staples (SJM) are pulling share of wallet, while discretionary categories like biscuits are in volume decline; expect continued promotional intensity in the category.

"The average shopping basket of the consumer in the U.S., whether you're in the higher or in the lower social economic classes, has not increased for the last two, three years. Within that basket, they've spent more money on the basics,"

SJM WATCH

MED

Feed — Buzzberg