Packaged snacks company Mondelez (NASDAQ: MDLZ) will be reporting earnings this Thursday afternoon. Here’s what you need to know.
Mondelez beat analysts’ revenue expectations last quarter, reporting revenues of $9.36 billion, up 4.1% year on year. It was a strong quarter for the company, with a solid beat of analysts’ gross margin estimates and a narrow beat of analysts’ organic revenue estimates.
Is Mondelez a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Mondelez’s revenue to grow 2.3% year on year, slowing from the 5.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Mondelez rarely misses Wall Street’s revenue estimates.
Looking at Mondelez’s peers in the shelf-stable food segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Conagra’s revenues decreased 1.4% year on year, meeting analysts’ expectations, and General Mills reported a revenue decline of 2.8%, topping estimates by 0.9%. Conagra traded down 6.6% following the results while General Mills was also down 1.7%.
Read our full analysis of Conagra’s results here and General Mills’s results here.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 2.9% on average over the last month. Mondelez is up 3.6% during the same time and is heading into earnings with an average analyst price target of $69.09 (compared to the current share price of $62.38).
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