Mondelez beats first-quarter profit estimates on higher prices
Mondelez International
beat Wall Street estimates for
first-quarter profit
on Tuesday, driven by the high prices for its chocolates and biscuits.
Mondelez implemented several rounds of price increases in recent quarters to offset rising costs of inputs, such as cocoa in 2024, helping the company's earnings.
This, along with its new product rollouts including the launch of the Glow Ups variant of its
Sour Patch Kids
candy and heavy-handed promotional activities and advertising spending helped the company draw in consumers amid high competition in the market.
However, Mondelez faces potential uncertainty due to an anticipated surge in product prices following U.S. President Donald Trump's
tariff policies
, which may impact
consumer spending
in the U.S., while the trade wars may affect its expansion efforts into emerging markets.
Shares of the Chicago-based company were up about 2 per cent after the bell.
On an adjusted basis, the company earned 74 cents per share for the quarter ended March 31, ahead of analysts' average estimate of 66 cents per share, according to data compiled by LSEG.
The
Toblerone
maker reported an increase in its prices by 6.6 percentage points in the quarter, while its volumes fell 3.5 percentage points.
Mondelez's net revenue rose 0.2 per cent to $9.31 billion for the quarter, compared with analysts' average estimate of $9.33 billion.
The company also reaffirmed its annual forecast, including
organic net revenue growth
of about 5 per cent and a 10 per cent decline in
adjusted profits
, noting it does not reflect any potential tariff changes.
"Our Q1 pricing and share performance, along with the global strength of our categories, provide us with continued confidence in our full-year outlook," said Mondelez CEO Dirk Van de Put in a statement.
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