Mondelez Q2 2026: sales up 4.1%, adjusted EPS down 2.7% in constant currency
Mondelez grew revenue 4.1% to $9.355 billion, but the reported profit jump came mostly from derivative accounting, not the underlying business. Adjusted EPS of $0.73 was flat year over year and down 2.7% in constant currency, and adjusted operating margin fell 1.2 points. Read the GAAP headline as noise and judge the quarter on pricing, volumes and cost pressure.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS jumped 144.9% to $1.20, driven mainly by a favorable year-over-year swing in mark-to-market derivative positions, lower pension charges and initial impacts from enacted tax law changes. Adjusted EPS of $0.73 was flat versus last year and down 2.7% in constant currency, though it still edged past the $0.6938 consensus estimate. Adjusted operating income of $1.222 billion fell 4.8%, so the underlying earnings base shrank even as the reported figure soared.
Reported net revenue rose 4.1% to $9.355 billion, and organic growth of 2.2% came from 1.5 points of pricing plus 0.7 points of volume/mix. Latin America (up 8.4% organic) and Asia, Middle East & Africa (up 7.1%) carried the quarter, while Europe shrank 3.5% organically. Favorable currency-related items added about 2.0 points to the reported growth rate.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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