Mondelēz raises revenue forecasts, contends with currency, inflation impacts
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MondelÄz (NASDAQ:MDLZ) posted a strong second quarter sales report on Tuesday, touting still-robust demand for biscuits and chocolate. 

The company reported non-GAAP EPS of $0.67 and $7.27B in revenue for the second quarter, pushing past consensus estimates on both fronts. Management credited nearly double-digit organic growth in all but one region, driven by strong sales in sweets, as the key to the results that proved resilient to inflation and concerns over consumer spending habits.

"Our second quarter and first half results were marked by strong top and bottom-line performance across all regions and categories, supporting the raising of our full-year revenue growth outlook," CEO Dirk Van de Put said. "These results combined with ongoing cost discipline, simplification and revenue growth management are delivering robust profit dollar growth and strong cash flow, enabling us to increase our dividend by 10 percent.â

He added that the integration of the Clif Bar protein bar business should add significantly to the snacks business given its strong appeal to nutrition-focused consumers. Van de Put noted that the full-year revenue growth outlook is now 8%, higher than the prior 4% expectation forecast in the first quarter.

To be sure, enthusiasm about a $10M increase in gross profits was tempered by a 330 basis point slide in gross profit margin due to higher input costs and adverse currency impacts. Additionally, the company estimated âcurrency translation would decrease 2022 net revenue growth by approximately 5% with a negative $0.22 impact to Adjusted EPS.â

Shares fell 0.7% shortly after the print.
Read more on the details of the quarter.