AI English summary of an SEC filing — figures as filed
Mondelez International MDLZThe company said net revenues for Q1 2024 rose $124 million (1.4%) to $9,290 million, and Organic Net Revenue rose $378 million (4.2%) to $9,397 million. It cited higher net pricing as the driver of Organic Net Revenue growth, partly offset by unfavorable volume/mix.
Key points
AI summaryThe company said net revenues for Q1 2024 rose $124 million (1.4%) to $9,290 million, and Organic Net Revenue rose $378 million (4.2%) to $9,397 million. It cited higher net pricing as the driver of Organic Net Revenue growth, partly offset by unfavorable volume/mix.
Mondelez International said operating income for Q1 2024 rose $1,222 million (81.2%) to $2,727 million, and Adjusted Operating Income rose $186 million (12.2%) to $1,710 million. The operating income margin changed from 16.4% in Q1 2023 to 29.4% in Q1 2024.
The company said net earnings attributable to Mondelez International for Q1 2024 decreased $669 million (32.1%) to $1,412 million, and diluted EPS was $1.04, down $0.48. It said Adjusted EPS rose $0.09 (10.5%) to $0.95.
The company said cocoa bean market prices on the London Intercontinental Exchange on the last trading day of Q1 2024 were 283% higher than on the same day a year earlier, and that prices are likely to remain at elevated levels for some time. It said price increases may not fully offset the higher cocoa costs, and that its hedging strategy may not prevent cost increases.
Key figures
Quarter ended March 31, 2024
- Revenue
- $9.3B
- Operating income
- $2.7B
- Net income
- $1.4B
- EPS
- $1.04
- Gross profit
- $4.8B
- Operating cash flow
- $1.3B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Mondelez net revenues and Organic Net Revenue for Q1 2024
The company said net revenues for Q1 2024 rose $124 million (1.4%) to $9,290 million, and Organic Net Revenue rose $378 million (4.2%) to $9,397 million. It cited higher net pricing as the driver of Organic Net Revenue growth, partly offset by unfavorable volume/mix.
Source · Based on the MD&A text of the filing
Operating income and Adjusted Operating Income changes
Mondelez International said operating income for Q1 2024 rose $1,222 million (81.2%) to $2,727 million, and Adjusted Operating Income rose $186 million (12.2%) to $1,710 million. The operating income margin changed from 16.4% in Q1 2023 to 29.4% in Q1 2024.
Source · Based on the MD&A text of the filing
Net earnings, diluted EPS and Adjusted EPS
The company said net earnings attributable to Mondelez International for Q1 2024 decreased $669 million (32.1%) to $1,412 million, and diluted EPS was $1.04, down $0.48. It said Adjusted EPS rose $0.09 (10.5%) to $0.95.
Source · Based on the MD&A text of the filing
Cocoa bean market prices and company commentary
The company said cocoa bean market prices on the London Intercontinental Exchange on the last trading day of Q1 2024 were 283% higher than on the same day a year earlier, and that prices are likely to remain at elevated levels for some time. It said price increases may not fully offset the higher cocoa costs, and that its hedging strategy may not prevent cost increases.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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