Analyst Consensus ?
ConsensusBuy42 ratings
Bullish3276.2%
Neutral819.0%
Bearish24.8%
Mondelez International, Inc. · MDLZ · FY2025 Q2 · Calendar Q3 2025
Mondelez: Pricing Supports Growth as North America Stays Weak
The quarter supports a qualified resilience case: pricing and emerging-market volume offset flat overall volumes, while persistent North American weakness and destocking limit confidence in durable growth.
Reported After market closeNASDAQConsumer Defensive
$76.09B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.73
Consensus $0.68
EPS surprise
+7.8%
Reported versus consensus
Reported revenue
$8.98B
Consensus $8.86B
Revenue surprise
+1.4%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-6.6%
Event window
SPY move
-0.1%
Same window
Abnormal move
-6.5%
Stock minus SPY
Volume
3.1×
Versus trailing sessions
Subsequent drift
-5.1%
Up to 20 sessions
MDLZSPY benchmark
Ask FN2 about MDLZ FY2025 Q2
Transcript, numbers and history already loaded
Why did MDLZ fall 6.6% after beating EPS estimates in FY2025 Q2?What changed in MDLZ's guidance and outlook in FY2025 Q2?Give me the bull and bear case for MDLZ after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the latest quarter shows continued pricing-led performance, more pronounced emphasis on flat volumes and North American weakness, and stronger highlighted emerging-market volume growth. Guidance remained maintained, while management added incremental pricing and planned higher 2026 media investment.
Guidance delta
Management maintained full-year guidance, with no change from the prior-quarter analysis.
Key takeaways
- Q2 performance was driven by pricing rather than volume growth.
- Emerging markets remained a key growth engine, with double-digit volume growth highlighted in the analysis.
- North American weakness persists; management is emphasizing incremental pricing, value channels, and e-commerce.
- Lower cocoa and cocoa-butter costs could improve margins, but input-price volatility remains a risk.
Management priorities
- Apply incremental North American pricing while protecting core price points.
- Increase working-media investment in 2026 to support brand volume.
- Expand share in value and e-commerce channels.
- Manage cocoa exposure through hedging and pricing while continuing share repurchases.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$59.38Current
$61Low
$69.97Average
$84High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Oct 5, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 30, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 29, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 29, 2026 |
| BNP Paribas | Outperform | Outperform | Maintain | Jul 29, 2026 |
| UBS | Neutral | Neutral | Maintain | Apr 29, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Apr 29, 2026 |
| B of A Securities | Buy | Buy | Maintain | Apr 10, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 30, 2026 |
| Rothschild & Co | Neutral | Buy | Downgrade | Mar 25, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Mar 16, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Feb 18, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Feb 9, 2026 |
| Stifel | Buy | Buy | Maintain | Feb 4, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Feb 4, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jan 8, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 29, 2025 |
| Jefferies | Buy | Hold | Upgrade | Jul 17, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 6, 2025 |
| Citigroup | Buy | Buy | Maintain | Jan 8, 2025 |
| Argus Research | Buy | Hold | Upgrade | Nov 28, 2023 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Oct 17, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 6, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 1, 2023 |
| BMO Capital | Outperform | Outperform | Maintain | Jan 31, 2022 |
| Seaport Global | Buy | Buy | Maintain | Jul 28, 2020 |
| Berenberg | Buy | Hold | Upgrade | Jun 15, 2020 |
| Guggenheim | Buy | Buy | Maintain | Apr 29, 2020 |
| Buckingham Research | Buy | Buy | Maintain | Feb 11, 2020 |
| Buckingham | Buy | Buy | Maintain | Feb 11, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jun 17, 2019 |
| DZ Bank | Buy | Hold | Upgrade | Jul 27, 2018 |
| Societe Generale | Buy | Hold | Upgrade | Feb 2, 2018 |
| Bank of America | Buy | Buy | Maintain | Feb 1, 2018 |
| PiperJaffray | Overweight | Neutral | Upgrade | Jul 25, 2017 |
| Susquehanna | Neutral | Positive | Downgrade | Feb 8, 2017 |
| Canaccord Genuity | Buy | Hold | Upgrade | Feb 4, 2016 |
| CLSA | Outperform | Buy | Maintain | Aug 6, 2015 |
| Nomura | Sell | Reduce | Maintain | Apr 9, 2014 |
| First Global | Outperform | Outperform | Maintain | Dec 11, 2013 |
| Credit Agricole | Underperform | Outperform | Downgrade | May 8, 2013 |
| Janney Capital | Neutral | Neutral | Maintain | Oct 12, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $59.38. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $70 | $64.99 | +17.9% | Jul 30, 2026 |
| UBS | Peter Grom | $68 | $65.53 | +14.5% | Jul 29, 2026 |
| Coker Palmer | Thomas Palmer | $72 | $62.48 | +21.3% | Jul 29, 2026 |
| BTIG | Rob Dickerson | $73 | $62.48 | +22.9% | Jul 29, 2026 |
| Jefferies | Scott Marks | $73 | $62.48 | +22.9% | Jul 29, 2026 |
| Piper Sandler | Michael Lavery | $65 | $61.5 | +9.5% | Apr 29, 2026 |
| Evercore ISI | David Palmer | $71 | $61.45 | +19.6% | Apr 29, 2026 |
| UBS | Analyst unavailable | $64 | $58.54 | +7.8% | Apr 29, 2026 |
| Barclays | Andrew Lazar | $68 | $58.54 | +14.5% | Apr 29, 2026 |
| BTIG | Rob Dickerson | $70 | $57.68 | +17.9% | Apr 13, 2026 |
| Bernstein | Analyst unavailable | $73 | $59.86 | +22.9% | Feb 18, 2026 |
| D.A. Davidson | Analyst unavailable | $64 | $59.52 | +7.8% | Feb 9, 2026 |
| D.A. Davidson | Brian Holland | $62 | $59.2 | +4.4% | Feb 4, 2026 |
| Stifel Nicolaus | Analyst unavailable | $68 | $59.94 | +14.5% | Feb 4, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $66 | $59.47 | +11.1% | Feb 4, 2026 |
| Piper Sandler | Michael Lavery | $64 | $59.47 | +7.8% | Feb 4, 2026 |
| Wells Fargo | Analyst unavailable | $65 | $59.47 | +9.5% | Feb 4, 2026 |
| UBS | Analyst unavailable | $63 | $59.47 | +6.1% | Feb 4, 2026 |
| Morgan Stanley | Analyst unavailable | $65 | $59.15 | +9.5% | Jan 28, 2026 |
| Deutsche Bank | Analyst unavailable | $61 | $58.4 | +2.7% | Jan 26, 2026 |
| Coker Palmer | Thomas Palmer | $69 | $57.34 | +16.2% | Jan 21, 2026 |
| UBS | Analyst unavailable | $60 | $56.82 | +1.0% | Jan 14, 2026 |
| Mizuho Securities | Analyst unavailable | $67 | $51.51 | +12.8% | Jan 8, 2026 |
| Wells Fargo | Chris Carey | $62 | $53.28 | +4.4% | Jan 5, 2026 |
| Piper Sandler | Analyst unavailable | $62 | $55.75 | +4.4% | Nov 21, 2025 |
| Barclays | Analyst unavailable | $67 | $57.85 | +12.8% | Oct 30, 2025 |
| RBC Capital | Nik Modi | $67 | $60.21 | +12.8% | Oct 29, 2025 |
| Stifel Nicolaus | Analyst unavailable | $70 | $58.78 | +17.9% | Oct 29, 2025 |
| Mizuho Securities | Analyst unavailable | $70 | $60.21 | +17.9% | Oct 29, 2025 |
| Bernstein | Alexia Howard | $84 | $60.21 | +41.5% | Oct 29, 2025 |
| Morgan Stanley | Megan Alexander Clapp | $68 | $57.87 | +14.5% | Oct 29, 2025 |
| Piper Sandler | Analyst unavailable | $63 | $60.21 | +6.1% | Oct 29, 2025 |
| Wells Fargo | Analyst unavailable | $72 | $60.21 | +21.3% | Oct 29, 2025 |
| Mizuho Securities | Analyst unavailable | $73 | $61.65 | +22.9% | Oct 28, 2025 |
| UBS | Peter Grom | $65 | $62.6 | +9.5% | Oct 8, 2025 |
| Morgan Stanley | Analyst unavailable | $71 | $61.99 | +19.6% | Oct 6, 2025 |
| Berenberg Bank | Analyst unavailable | $70 | $63.17 | +17.9% | Oct 2, 2025 |
| Evercore ISI | Analyst unavailable | $72 | $62.56 | +21.3% | Sep 26, 2025 |
| Barclays | Analyst unavailable | $77 | $64.56 | +29.7% | Jul 31, 2025 |
| Bernstein | Analyst unavailable | $88 | $65.1 | +48.2% | Jul 30, 2025 |
| Piper Sandler | Analyst unavailable | $59 | $67.5 | -0.6% | Mar 27, 2025 |
| Morgan Stanley | Analyst unavailable | $69 | $64.95 | +16.2% | Mar 24, 2025 |
| Wells Fargo | Chris Carey | $61 | $58.29 | +2.7% | Jan 8, 2025 |
| Piper Sandler | Michael Lavery | $84 | $68.35 | +41.5% | Oct 30, 2024 |
| Wells Fargo | Chris Carey | $78 | $69.15 | +31.4% | Oct 30, 2024 |
| Piper Sandler | Michael Lavery | $74 | $71.35 | +24.6% | Oct 23, 2024 |
| Bank of America Securities | Peter Galbo | $84 | $70.53 | +41.5% | Oct 15, 2024 |
| Piper Sandler | Michael Lavery | $76 | $69.16 | +28.0% | Aug 9, 2024 |
| D.A. Davidson | Brian Holland | $75 | $67.05 | +26.3% | Jul 31, 2024 |
| Piper Sandler | Michael Lavery | $78 | $67.98 | +31.4% | Jun 5, 2024 |
| Jefferies | Rob Dickerson | $78 | $67.89 | +31.4% | May 31, 2024 |
| Piper Sandler | Michael Lavery | $81 | $67.6 | +36.4% | Apr 9, 2024 |
| RBC Capital | Nik Modi | $83 | $71.48 | +39.8% | Nov 27, 2023 |
| Morgan Stanley | Pamela Kaufman | $74 | $71.49 | +24.6% | Nov 24, 2023 |
| Cowen & Co. | Analyst unavailable | $75 | $65.92 | +26.3% | Feb 6, 2023 |
| Barclays | Analyst unavailable | $72 | $66.73 | +21.3% | Feb 2, 2023 |
| Wells Fargo | Analyst unavailable | $77 | $65.78 | +29.7% | Feb 1, 2023 |
| Credit Suisse | Analyst unavailable | $76 | $65.44 | +28.0% | Feb 1, 2023 |
| Piper Sandler | Analyst unavailable | $80 | $65.44 | +34.7% | Feb 1, 2023 |
| Morgan Stanley | Pamela Kaufman | $75 | $66.09 | +26.3% | Dec 20, 2022 |
| Piper Sandler | Analyst unavailable | $77 | $67.26 | +29.7% | Dec 15, 2022 |
| UBS | Analyst unavailable | $71 | $68.03 | +19.6% | Dec 8, 2022 |
| Deutsche Bank | Analyst unavailable | $75 | $67.32 | +26.3% | Dec 6, 2022 |
| BNP Paribas | Analyst unavailable | $68 | $64.1 | +14.5% | Nov 15, 2022 |
| Credit Suisse | Robert Moskow | $67 | $58.1 | +12.8% | Oct 18, 2022 |
| Mizuho Securities | Analyst unavailable | $75 | $64.68 | +26.3% | Apr 27, 2022 |
| Morgan Stanley | Pamela Kaufman | $70 | $65.78 | +17.9% | Apr 26, 2022 |
| Jefferies | Robert Dickerson | $76 | $67.1 | +28.0% | Jan 27, 2022 |
| Mizuho Securities | John Baumgartner | $77 | $66.25 | +29.7% | Jan 26, 2022 |
| Deutsche Bank | Stephen Powers | $73 | $67.38 | +22.9% | Jan 20, 2022 |
| Morgan Stanley | Pamela Kaufman | $73 | $68.1 | +22.9% | Jan 16, 2022 |
| Bank of America Securities | Bryan Spillane | $75 | $67.04 | +26.3% | Jan 5, 2022 |
| Goldman Sachs | Jason English | $71 | $62.2 | +19.6% | Jul 30, 2021 |
| Guggenheim | Laurent Grandet | $66 | $62.34 | +11.1% | Jul 28, 2021 |
| Stifel Nicolaus | Christopher Growe | $67 | $59.56 | +12.8% | Apr 28, 2021 |
| Credit Suisse | Robert Moskow | $68 | $59.56 | +14.5% | Apr 28, 2021 |
Track every rating change on MDLZ the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationMondelez International, Inc. operates as a prominent global entity in the snack and beverage sector, focusing on the production, promotion, and distribution of a wide array of food items. Its extensive reach spans multiple continents, including North America, Latin America, Asia, the Middle East, Africa, and Europe. The company's diverse product portfolio encompasses biscuits (such as cookies, crackers, and various savory snacks), chocolates, chewing gums, candies, as well as selection of cheese and general grocery products, and powdered beverage mixes.…
Historical context
All MDLZ earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| LW Lamb Weston Holdings, Inc. | FY2027 Q1 · Calendar Q4 2026 | +27.8% | +7.5% | Lamb Weston raises FY2027 outlook as North America volume growth continues |
| MKC McCormick & Company, Incorporated | FY2026 Q3 · Calendar Q4 2026 | +13.9% | -4.9% | McCormick reports strong Q3 growth while U.S. volumes remain soft |
| CAG Conagra Brands, Inc. | FY2027 Q1 · Calendar Q3 2026 | +44.4% | -4.9% | Conagra maintains outlook while increasing brand investment and simplifying SKUs |
| COST Costco Wholesale Corporation | FY2026 Q4 · Calendar Q3 2026 | +3.2% | +2.9% | Costco’s growth broadens as warehouses and digital sales accelerate |
| GIS General Mills, Inc. | FY2027 Q1 · Calendar Q3 2026 | +4.6% | +1.0% | General Mills leans on mix, innovation and e-commerce amid pressure |
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
Latest beats and misses
Who reports nextBeat on EPS
- LWFY2027 Q1 · October 6, 2026+27.8% EPS+7.5% move
- RPMFY2027 Q1 · October 6, 2026+1.5% EPS+3.2% move
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
Get the MDLZ recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-07T18:20:45.813441+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-07T18:20:45.810252+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-07. For educational purposes only; not investment advice.