Mondelez Beats Revenue and Profit Estimates as Snack Demand Holds

Mondelez International showed that pricing power is still alive in packaged foods, reporting first-quarter revenue and profit above Wall Street expectations as shoppers kept reaching for Oreo cookies, Cadbury chocolate and other familiar snacks despite a choppy economy. Net revenue rose 8.2% to $10.08 billion, above analysts’ $9.75 billion estimate, while organic net revenue increased 3.0%.

The key detail was how Mondelez got there. Pricing added 3.5 percentage points to organic growth, while volume and mix fell 0.5 percentage point, a clear sign that the company kept pushing through higher costs without seeing a sharp pullback in demand. Adjusted diluted earnings per share came in at $0.67, down 14.9% on a constant-currency basis, while reported diluted earnings per share rose 41.9% from a year earlier to $0.44. Cash provided by operating activities totaled $0.5 billion, free cash flow was $0.2 billion, and the company returned $0.6 billion to shareholders.

For the American consumer, the quarter offered a familiar snapshot of uneven spending. Mondelez said emerging markets led growth with organic net revenue up 6.3%, while developed markets rose 0.8%. By region, Latin America posted reported net revenue growth of 12.1%, Asia, Middle East & Africa rose 14.3%, Europe increased 9.0% and North America edged up 0.5%. That mix suggests shoppers are still making room for small indulgences even as they trade down in other categories and look harder at value.

Chief Executive Dirk Van de Put said the quarter reflected “strong execution” of the company’s consumer-centric strategy and increased investment behind brands and growth platforms. Mondelez also reaffirmed its 2026 outlook, calling for flat to 2% organic net revenue growth and flat to 5% adjusted EPS growth on a constant-currency basis, despite what it described as significant economic volatility.

The company has spent recent years working through stubborn cost pressure, especially cocoa, and that backdrop still shapes the story. Mondelez said earlier that it had already sourced cocoa for 2026 at rates above current market levels, limiting its room to respond quickly even as commodity prices eased from last year’s spike. Chief Financial Officer Luca Zaramella said the company had extra Middle East-related costs under control and was well covered for oil and packaging costs through the rest of the year and into 2027.

Investors took the update as another sign that branded snack makers can still defend margins when they have shelf appeal and enough loyal buyers. Mondelez shares rose about 2% in extended trading after the results, a modest but meaningful vote of confidence in a company testing how far price increases can go before households finally cut back.