Mondelez International turns lower after slight profit miss
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Mondelez International (NASDAQ:MDLZ) trades lower after a mixed earnings report that saw it beat on the top line but miss with EPS by $0.02.
Organic sales were up 5.4% in Q4 vs. +3.9% consensus with both volume and pricing working in the company's favor. Organic sales were down 0.3% in North America, but were positive for the Latin America (+19.7%), AMEA (+5.8%) and Europe (+65%) regions.
Gross profit margin fell 90 bps to 38.7% of sales due to higher raw material and transportation costs and unfavorable mix, partially offset by pricing, manufacturing productivity and volume leverage.
Operating margin was 16.6% of sales, which was level with last year's mark.
Looking ahead, Mondelez expects performance in line with its long-term growth algorithm of more than 3% organic revenue growth, high single-digit adjusted EPS growth on a constant currency basis and free cash flow of more than $3B. The company estimates currency translation would decrease 2022 revenue growth by approximately 2.5 percent with a negative $0.08 impact to adjusted EPS.
Shares of Mondelez International (MDLZ) are down 2.18% in after-hours trading to $66.00.