Mondelēz Beats Q3 Profit Estimates and Acquires Undercover Snacks

Mondelēz International reported third-quarter 2026 global revenue of $9.97 billion, a 2.3% increase, with adjusted earnings of $0.78 per share surpassing analyst estimates of $0.71. The company attributed the results to a return to volume-led growth, driven by a 1.8 percentage point increase in sales volumes and a modest 0.3 percentage point rise in pricing. Performance was further supported by a global cocoa surplus that lowered raw material costs.

Regional results were mixed. Latin American revenue increased by 12%, while North American revenue rose 1.1% to $2.85 billion. European revenue declined 3.3%, prompting the company to cut prices on some chocolate products to recover volumes. CEO Dirk Van de Put noted that consumer confidence in North America remains soft due to higher energy prices.

To expand its presence in the permissible indulgence category for health-conscious consumers, the company announced an agreement to acquire a majority stake in Undercover Snacks, a U.S. brand specializing in chocolate-coated quinoa crisps. The deal is expected to close in early 2027.

Mondelēz reaffirmed its 2026 outlook, projecting organic net revenue growth of at least 2% and adjusted earnings per share growth between flat and 5%, despite ongoing geopolitical disruptions and commodity volatility.