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MDLZ
FY2026 Q1
예상 부합
Mondelez International, Inc. 실적 발표
Buzzberg 분석
Emerging markets growth remains strong at 6.3% in Q1
Mondelez reported a solid Q1 2026, beating internal expectations, driven by strong emerging market growth and stabilizing developed markets. Management maintained FY2026 EPS guidance, citing the need to reinvest upside and manage unexpected costs from the Middle East crisis. Emerging markets grew 6.3% in Q1, with strong performance in India, China, and Brazil.
Buzzberg 분석 Emerging markets growth remains strong at 6.3% in Q1 Mondelez reported a solid Q1 2026, beating internal expectations, driven by strong emerging market growth and stabilizing developed markets. Management maintained FY2026 EPS guidance, citing the need to reinvest upside and manage unexpected costs from the Middle East crisis. Emerging markets grew 6.3% in Q1, with strong performance in India, China, and Brazil. 전체 분석 보기분석 접기
Mondelez reported a solid Q1 2026, beating internal expectations, driven by strong emerging market growth and stabilizing developed markets. Management maintained FY2026 EPS guidance, citing the need to reinvest upside and manage unexpected costs from the Middle East crisis. Emerging markets grew 6.3% in Q1, with strong performance in India, China, and Brazil.
- US business saw slight positive net revenue growth, with share gains in crackers and candy.
- European chocolate volumes are improving, driven by a strong Easter season and the Biscoff partnership.
- Management is reinvesting in the business and maintaining EPS guidance for FY2026.
EMERGING_MARKETS 매출 성장률6.3%보고값
매출$10.08B-4% 전분기 대비
주당순이익(EPS)$0.67-7% 전분기 대비
매출총이익률27.81%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Macro
US consumer confidence expected to further deteriorate
Share
US Biscuit share gains driven by Ritz and Sour Patch Kids
핵심 내용 3개 더 보기
Innovation
Biscoff partnership is a major growth driver globally
Input Costs
Cocoa prices may decline further; industry coverage at 10 months
Capex
North America supply chain modernization to cut costs
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| EMERGING_MARKETS 매출 성장률 | 6.3% | 보고값 |
| 매출 | $10.08B | -4% 전분기 대비 |
| 주당순이익(EPS) | $0.67 | -7% 전분기 대비 |
| 매출총이익률 | 27.81% | 보고값 |
| 영업이익률 | 8.53% | 보고값 |
| 잉여현금흐름 | $0.155B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2026 | 5%–7% | 6% | 유지 |
AI, 자본지출 및 수요 분석
경영진 분석
Cautiously Optimisti
Management expressed confidence in Q1 performance and innovation momentum but highlighted headwinds from the Middle East conflict and confirmed guidance, indicating a balanced, cautious outlook.
투자 및 생산능력
Management discussed a supply chain modernization program in North America biscuits, which involves bringing co-manufactured products in-house, investing in packaging capabilities, and automating the DSD network to reduce costs and improve flexibility.
아래에 언급된 기업 2개 모두 표시
기업발표 이후 수익률
고객
고객
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.
근거
“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.”
외부 신호
공급망 알파 · 3발표 이후 수익률
The industry-wide cocoa coverage has extended to ~10 months, which supports the current cocoa price of $2,500/tonne, despite an expected surplus.
근거
“In fact, if we look at the average coverage of the industry at this point in time, It exceeds around about 10 months, which is the highest we have seen in a while. And so to say that what you saw in terms of price increases in the cocoa ma…”
The GST change in India is helping consumption of Mondelez products, contributing to strong double-digit growth in Q1.
근거
“And then, of course, there was the GST change in India that is helping consumption in quite a way.”
Mondelez plans to bring some co-manufactured product lines in-house to save money and increase flexibility, which could impact contract manufacturers.
근거
“We have proven lines of business that are at the moment manufactured through co-manufacturers. And we want to bring those in-house. So those are proven volume platforms, things that really work well from a consumer standpoint.”
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 2개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.