Investing.com -- Mondelez International Inc (NASDAQ:MDLZ) reported third quarter adjusted earnings per share of $0.78, beating analyst estimates of $0.71 by $0.07. The snack food giant posted revenue of $9.97 billion, slightly below the consensus estimate of $9.98 billion but up 2.3% from the prior year period.
The company delivered organic net revenue growth of 2.1%, driven by volume/mix growth of 1.8% and pricing of 0.3%. Shares rose 3.2% in after-hours trading Thursday following the earnings beat.
"We delivered strong third-quarter results, driven by broad based volume growth and robust share performance," said Dirk Van de Put, Chairman and Chief Executive Officer. "We continue to see top- and bottom-line growth momentum across both developed and emerging markets, while significantly reinvesting in our brands, innovation, and distribution."
Adjusted operating income increased $199 million at constant currency, with adjusted operating income margin expanding 190 basis points to 13.9%. The margin improvement was driven primarily by lower raw material costs, lower manufacturing costs from productivity gains, higher net pricing and favorable volume/mix, partially offset by higher selling, general and administrative expenses and increased advertising costs.
Regionally, Latin America led growth with net revenues up 12.0%, while Asia, Middle East & Africa increased 8.2%. Europe declined 3.3% and North America rose 1.1%.
For fiscal 2026, Mondelēz reaffirmed its outlook for organic net revenue growth of at least 2% and adjusted EPS growth in the range of flat to 5% on a constant currency basis. The company expects free cash flow of approximately $3 billion for the year.
Through the first nine months of 2026, the company returned $2.8 billion to shareholders through dividends and share repurchases. Year-to-date cash provided by operating activities was $2.6 billion with free cash flow of $1.7 billion.
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