Vending

Mondelez reports Q2 2021 sales, earnings growth

Logo provided.

July 28, 2021

Mondelez International Inc. posted positive results for the second quarter ending June 30, 2021, as net revenues rose 12.4% from $5.91 billion in Q2, 2020 to $6.64 billion for Q2, 2021, driven by 6.2% organic net revenue growth, favorable currency and acquisitions, according to an earnings report.

Net earnings attributable to the company rose from $544 million to $1.08 billion for the comparative quarters.

Diluted (GAAP) earnings per share for the comparative quarters jumped 100% from 38 cents in Q2, 2020 to 76 cents in Q2, 2021. Adjusted (non-GAAP) EPS rose 8.2% from 61 cents to 66 cents.

"We delivered another strong quarter of performance across all key metrics, including top-line, profitability and cash generation," Dirk Van de Put, chairman and chief executive officer, said in the press release. "We continue to see strength across the vast majority of our geographies, categories and brands as we remain intensely focused on consistent execution and reinvestment to further strengthen our position."

The $6.64 billion in quarterly revenue surpassed analyst expectations by $230 million, while the non-GAAP EPS of 66 cents beat expectations by one cent and the GAAP EPS of 76 cents beat expectations by 16 cents, according to Seeking Alpha. The 6.2% boost in organic sales surpassed analyst expectations of 5.1%,

The company declared a 35-cent per share quarterly dividend, marking an 11.1% increase from the prior 32-cent dividend.

Shares traded at $65.23 Tuesday against a 52-week range of $51.69-$65.50.

On a regional basis, revenue growth was strongest in Latin America at 30.9% to $669 million, followed by Asia, the Middle East and Africa at 17.4% to $1.45 billion, Europe at 15.7% to $2.47 billion, and North America at 1.1% to $2.047 billion.

The company raised its organic net revenue growth outlook for 2021 to 4%-plus.