Mondelez Reports Q1 Results, Beating Analyst Estimates by $100 Million in Revenue, $0.03 in EPS
Mondelez International (NASDAQ: MDLZ), owner of famous food brands like Oreo cookies, Cadbury Dairy Milk chocolate, Toblerone chocolate, and Trident chewing gum, released its first quarter 2020 earnings report today. Revenues grew 2.6% overall, while organic net revenue figures were even better, increasing by 6.4%. Earnings per share, or EPS, present a slightly more complex picture due to "unfavorable currency impacts."
According to Zack's research, analyst consensus pegged EPS at $0.65 before the quarterly report, the same earnings the company reported for first quarter 2019. As reported, diluted, GAAP EPS is $0.52 per share, or 13 cents less than the estimate reported by Zack's. However, adjusted, non-GAAP EPS is $0.69 for the period when calculated on a constant-currency basis, beating expectations by 4 cents. Revenue also beat some analyst forecasts by approximately $100 million.
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The company reported net revenues of $6.7 billion for the quarter. While Europe generated the largest total amount of revenue at nearly $2.6 billion, revenue growth there was only 1.3% year over year. The dynamo driving Mondelez's gains in this metric was the North American market, where revenue grew 15.1% year over year, likely driven by coronavirus related consumer stockpiling and skyrocketing sales of comfort food during the pandemic.
Source Fool.com
