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Mondelēz International
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Latest analysis
Updated Jul 28, 2026
Mondelēz Q2 2026: Emerging market momentum and North America recovery drive raised top-line guidance to at least +2%, with 2027 EPS flagged as 'strong' despite cocoa volatility.
Mondelēz delivered positive volume mix across North America and emerging markets in Q2 2026, with organic net revenue growth of 4.4% in emerging markets and high-single-digit growth in the U.S. value channel, signaling durable distribution expansion rather than a one-time consumer trade-down benefit. The company raised its full-year organic revenue guidance to at least +2% while holding EPS guidance flat, with management explicit that upside will be reinvested in A&C and innovation rather than dropped to the bottom line. Cocoa market dynamics have structurally improved versus 2024 — a half-million metric ton surplus and 10-month industry coverage versus 7 months in the prior crisis — but El Niño and pod count uncertainty keep 2027 commodity exposure a managed rather than resolved risk.
Tone: bullishRevenue
$38.5B
MDLZ 10-K · FY 2025
Employees
91,000
Revenue FY2024
$36.4B
Headquarters
Chicago, IL
Profile
MDLZ 10-K Item 1 · Feb 4, 2026Mondelēz International is one of the world's largest snack companies, selling chocolate, biscuits, baked snacks and adjacent categories in over 150 countries. The company's portfolio includes iconic global brands such as Oreo, Cadbury Dairy Milk, Milka and Toblerone. Operations are organized across four regional segments: Latin America, AMEA, Europe and North America.
Read filing description ↓ Collapse description ↑
Mondelēz International's purpose is to empower people to snack right. We sell our products in over 150 countries around the world. We are one of the world's largest snack companies with global net revenues of $38.5 billion and net earnings of $2.5 billion in 2025. Our core business is making and selling chocolate, biscuits and baked snacks. We also have additional businesses in adjacent, locally relevant categories including gum & candy, cheese & grocery and powdered beverages. Our portfolio includes iconic global and local brands such as Oreo, Ritz, LU, Clif Bar and Tate's Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka and Toblerone chocolate. We strive to create a positive impact on the world and communities in which we operate while driving business performance. Our goal is to lead the future of snacking around the world by offering the right snack, for the right moment, made the right way. We aim to deliver a broad range of delicious, high-quality snacks that nourish life's moments, made with sustainable ingredients and packaging. We run our business with a long-term perspective and we believe the successful delivery of our strategic plan will drive consistent top- and bottom-line growth and enable us to create long-term value for our shareholders.
Primary products
- Biscuits & Baked Snacks
- Chocolate
- Gum & candy
- Beverages
- Cheese & grocery
Business segments
End markets
Geographies
Named customers
No single customer accounted for 10% or more of our net revenues from continuing operations in 2025.
Named competitors
“Our advantaged global footprint, operating scale and portfolio of brands have all significantly contributed to building our market-leading positions across most of the product categories in which we sell.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total net revenues increased from $36.4 billion in 2024 to $38.5 billion in 2025, driven by growth across the AMEA, Europe and Latin America segments partially offset by a decline in North America.
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