The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Mondelez International crushed expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share contracted significantly.
Gross margins increased, operating margins increased, net margins shrank.
Mondelez International booked revenue of $12.91 billion. The seven analysts polled by S&P Capital IQ expected a top line of $8.64 billion on the same basis. GAAP reported sales were 2.4% lower than the prior-year quarter's $13.23 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.64. The nine earnings estimates compiled by S&P Capital IQ averaged $0.36 per share. GAAP EPS of $0.36 for Q3 were 31% lower than the prior-year quarter's $0.52 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 36.5%, 160 basis points better than the prior-year quarter. Operating margin was 13.2%, 40 basis points better than the prior-year quarter. Net margin was 5.1%, 190 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $9.79 billion. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $35.71 billion. The average EPS estimate is $1.41.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 81 members out of 83 rating the stock outperform, and two members rating it underperform. Among 23 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 23 give Mondelez International a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Mondelez International is outperform, with an average price target of $44.26.
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