10-QPeriod: Q3 FY2025

Mondelez International, Inc. Quarterly Report for Q3 Ended Sep 30, 2025

Filed October 28, 2025For Securities:MDLZ

Summary

Mondelez International, Inc. (MDLZ) reported its financial results for the third quarter and the first nine months of 2025. For the third quarter, net revenues increased by 5.9% year-over-year to $9.7 billion, driven by higher net pricing and favorable currency impacts, partially offset by lower volume/mix. However, operating income saw a significant decrease of 35.5% to $744 million, and net earnings attributable to Mondelēz International fell 12.9% to $743 million. Diluted Earnings Per Share (EPS) decreased by 9.5% to $0.57. The nine-month period showed a similar trend with net revenues up 4.5% to $28.0 billion, but operating income declined sharply by 45.2% to $2.6 billion, and net earnings attributable to Mondelēz International dropped 37.7% to $1.8 billion. Diluted EPS for the nine months decreased by 35.4% to $1.37. The company cited higher input costs and unfavorable volume/mix as key detractors from profitability, despite strategic pricing initiatives. Despite the profit decline, the company continues to invest in growth, including the acquisition of Evirth in China, and maintain a strong liquidity position with a significant share repurchase program in place. Investors should monitor the impact of ongoing macroeconomic uncertainties and elevated commodity costs, particularly cocoa, on future profitability.

Financial Highlights

54 data points
Beta

Revenue

$9.74B

26.8% Gross Margin

Net Income

$743.00M

7.6% Net Margin

EPS (Diluted)

$0.57

Total Assets

$71.36B

Cash & Equivalents

$1.47B

Free Cash Flow

$418.00M

Financial Statements
Beta
Revenue$9.74B
Cost of Revenue$7.13B
Gross Profit$2.61B
SG&A Expenses$1.79B
Operating Income$744.00M
Interest Expense$157.00M
Net Income$743.00M
EPS (Basic)$0.57
EPS (Diluted)$0.57
Shares Outstanding (Basic)1.29B
Shares Outstanding (Diluted)1.30B

Key Highlights

  • 1Net revenues for Q3 2025 increased by 5.9% to $9.7 billion, primarily driven by higher net pricing and favorable currency translation.
  • 2Operating income for Q3 2025 decreased by 35.5% to $744 million due to higher input costs and unfavorable volume/mix.
  • 3Net earnings attributable to Mondelēz International for Q3 2025 decreased by 12.9% to $743 million.
  • 4Diluted EPS for Q3 2025 was $0.57, a decrease of 9.5% compared to the prior year.
  • 5The company completed the acquisition of Evirth (Shanghai) Industrial Co., Ltd. in China during Q4 2024, contributing to revenue growth.
  • 6Elevated commodity costs, particularly cocoa, continue to be a significant factor impacting profitability.
  • 7The company has a remaining share repurchase authorization of approximately $7.2 billion as of September 30, 2025.

Frequently Asked Questions

Mondelez International experienced revenue growth driven by pricing and currency favorable movements in Q3 2025, but saw a significant decline in operating income and net earnings. This was primarily due to higher input costs and unfavorable volume/mix, which more than offset the benefits of pricing strategies.

The primary factors impacting profitability are elevated input costs, particularly for commodities like cocoa, and unfavorable volume/mix, which indicates lower sales volumes or less favorable product combinations. These factors are partially offset by strategic pricing increases.

The company maintains a strong liquidity position and has a significant share repurchase program. As of September 30, 2025, approximately $7.2 billion remained authorized for share repurchases. Dividends also continue to be paid, reflecting a commitment to shareholder returns.

The company expects to continue facing elevated cocoa costs in the near and medium term, although 2026 costs are anticipated to be lower than the current year. These costs are influenced by various external factors including climate, geopolitical events, and regulations.