Mondelez (NASDAQ:MDLZ) is a Chicago-based company that manufactures, markets, and sells snack food and beverage products in Latin America, North America, and around the world. Some of its most recognizable brands include the Christie Brown Company, which consists of brands like Mr. Christie, Triscuits, and Dad’s Cookies. Some of its other candy brands include household names like Belvita, Oreos, and Sour Patch Kids.
Shares of Mondelez increased 3.39% on Tuesday, January 30, 2024. Meanwhile, the stock has climbed 16% in the year-over-year period. Despite the recent bump, Mondelez leadership struck a somewhat pessimistic tone after releasing the company’s final batch of fiscal 2023 earnings. Late on Tuesday, Mondelez officially called for slower growth in fiscal 2024. The company pointed to “greater-than-usual volatility as a result of geopolitical uncertainty.”
This company released its fourth quarter (Q4) and full year fiscal 2023 earnings yesterday. Mondelez reported net revenue growth of 14.4% compared to the previous year. Moreover, adjusted earnings per share (EPS) climbed 19% year-over-year on a constant currency basis to $3.19. The company benefited from strong operating gains, lower interest expense, fewer shares outstanding and dividend income from marketable securities. That was partially offset by higher taxes and lower benefit plan non-service income.
Mondelez reported cash provided by operating activities of $4.7 billion. Meanwhile, free cash flow increased $0.6 billion year-over-year to $3.6 billion.
Shares of Mondelez currently possess a price-to-earnings ratio of 22, which puts this stock in favourable value territory compared to its industry peers.
