Mondelēz CEO on Q2 earnings beat: 'Very good topline growth'

Summary

Mondelez CEO Dirk Van de Put discusses the company's Q2 earnings beat, highlighting volume-driven growth in North America, sustained 9% emerging-market expansion, and a European business that is beginning to recover. He expects chocolate pricing to stabilize and European volume growth to resume in the second half, while also commenting on the current cocoa market surplus.

• Mondelez beat Q2 estimates with solid net revenue growth and gross margin expansion.
• US business gained market share in all categories with good volume growth.
• Emerging markets, 40% of the business, have grown at a 9% CAGR for five years.
• Europe was weighed by heat waves, consumer caution, and past cocoa-driven price increases, but recovery is expected in H2.
• The cocoa market has swung to a large surplus with lower demand, helping stabilize input costs.
• The company raised its outlook for the year.