A Peek Behind Mondelez Intl’s 1Q24 Numbers- (MDLZ)

Growth is looking thin

For some time we have seen multiple trends including accounting-related benefits and pricing dynamics that we believe have helped keep MDLZ’s earnings growth above a sustainable level. Many of these factors were on display in 1Q24.

The company reported adjusted EPS of $0.95 for 1Q24 beating forecasts by 6 cents. MDLZ has a history of beating estimates by 4-7 cents. However, after adjusting for the items in question, we believe not only would MDLZ have not met earning targets, it would not have posted positive EPS growth.

Let’s get behind the numbers…

---