Mondelēz International, Inc. Nov. 2 reported its third quarter 2020 results, as it was informed by the company in the press release.
In particular, net revenues increased 4.9 percent driven by Organic Net Revenue growth of 4.4 percent. Volume and pricing drove growth, partially offset by unfavorable mix; gross profit moved up $276 million and margin – by 230 basis points to 41.9 percent due to higher mark-to-market gains from currency and commodity derivatives.
The adjusted gross profit increased $152 million at constant currency; operating income increased $259 million and margin was 17.0 percent, up 320 basis points primarily due to favorable year-over-year mark-to-market gains from currency and commodity derivatives; adjusted EPS was $0.63, flat on a constant-currency basis, primarily driven by operating gains offset by unfavorable taxes. The company returned $0.4 billion to shareholders in cash dividends. The company suspended its share repurchase program in March, providing flexibility while managing the COVID-19 situation and response.
Mondelēz International, Inc. empowers people to snack right in over 150 countries around the world. With 2019 net revenues of approximately $26 billion, Mondelēz International is a member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index.
