Packaged snacks company Mondelez (NASDAQ: MDLZ) will be announcing earnings results this Tuesday after market close. Here’s what to expect.
Mondelez beat analysts’ revenue expectations last quarter, reporting revenues of $10.08 billion, up 8.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a beat of analysts’ EPS 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 2.5% year on year, slowing from the 7.7% 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 has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Mondelez’s peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Lamb Weston delivered year-on-year revenue growth of 5.6%, beating analysts’ expectations by 4.8%, and Simply Good Foods reported a revenue decline of 6.3%, topping estimates by 5.1%. Simply Good Foods’s stock price was unchanged following the results.
Read our full analysis of Lamb Weston’s results here and Simply Good Foods’s results here.
Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices flat over the last month. Mondelez’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $67.27 (compared to the current share price of $60.40).
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