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Mondelez Lifts Guidance Despite Q2 Miss as Rising Costs Bite

By Yasin Ebrahim

Investing.com - Mondelez raised its full-year guidance Tuesday despite reporting second-quarter results that fell short of Wall Street estimates as rising costs weighed on performance.

Mondelez International (NASDAQ:MDLZ) shares were flat in after-hours trade following the report.

Mondelez announced earnings per share of $0.54 on revenue of $7.27B. Analysts polled by Investing.com anticipated EPS of $0.64 on revenue of $6.8B.

"Our chocolate and biscuit businesses continue to demonstrate strong volume growth and pricing resilience across both developed and emerging markets," the company said.

Gross profit margin decreased 330 basis points to 36.3%, pressured by higher raw material and transportation costs and an unfavorable mix.

Looking ahead to 2022, the company said it now expects more than 8% percent organic net revenue growth, which "reflects the strength of its first half and higher pricing related to increased input costs," Mondelez said.

The company raised its quarterly dividend by 10%.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.