Vending

Mondelez International boosts Q1 2021 revenue, earnings

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April 28, 2021

Mondelez International revenues increased 7.9% from $6.7 billion in Q1 2020 to $7.24 billion in Q1 2021, according to a press release.

Earnings rose from $743 million in Q1, 2020 to $968 million in Q1, 2021,

Diluted earnings per share rose 33.3% from 51 cents in Q1 2020 to 68 cents in Q1 2021, while adjusted EPS rose 10.6% to 77 cents.

The gain for the first three months ending March 31, 2021 was driven by organic net revenue growth of 3.8%, favorable currency and incremental sales from the company's acquisitions of Give & Go and Hu.

"We saw continued improvement across emerging markets, healthy demand in developed markets and another quarter of strong share performance," Dirk Van de Put, chairman and CEO, said in the press release. "We remain squarely focused on accelerating growth by further strengthening our core brand and expanding our presence in high-growth channels, categories and adjacencies."

The $7.24 billion revenue for the quarter beat analyst expectations by 3.8%, according to Seeking Alpha, while the non-GAAP EPS of 77 cents beat estimates by 8 cents and GAAP EPS of 68 cents beat estimates by 2 cents.

Shares traded at $58.72 Tuesday against a 52-week range of $47.71-$59/98.

The company expects more than 3% organic net revenue growth for 2021 and high single digit adjusted EPS growth.