===Mondelez Int'l (MDLZ) reported earnings on Tue 30 Jan 24 (a/h)

 

Mondelez Int'l beats by $0.06, reports revs in-line

• Reports Q4 (Dec) earnings of $0.84 per share, excluding non-recurring items, $0.06 better than the FactSet Consensus of $0.78; revenues rose 7.1% year/year to $9.31 bln vs the $9.31 bln FactSet Consensus.
• For 2024, the company expects Organic Net Revenue growth of 3 to 5 percent, high single-digit Adjusted EPS growth on a constant currency basis based on 2023 Adjusted EPS incl. developed market gum. The company expects for 2024 Free Cash Flow of $3.5+ billion. The company estimates currency translation would decrease 2024 net revenue growth by approximately 0.5 percent with a negative $0.03 impact to Adjusted EPS.
• Outlook is provided in the context of greater than usual volatility as a result of geopolitical uncertainty.

Earnings this week : Jan 29 - Feb 2, 24 (wk 5)

Monday (Jan 29)

• Morning: CR BEN PPBI PHG SOFI
• Afternoon: ARE CADE CALX CSWC CLF ELS FFIV GGG HLIT HTLF HP NUE PCH SANM SMCI WHR WWD

Tuesday (Jan 30)

• Morning: AOS CVLT GLW DHR FCF GM HCA HOPE HUBB JBLU JCI MBUU MAN MDC MPC MPLX MSCI PNR PFE PII PHM SYY UPS
• Afternoon: AMD GOOG APAM ASH AX BXP CB EA ENVA EQR FIBK FBIN HA JNPR LC LFUS MANH MTCH MSFT MOD MDLZ RNR RHI SWKS SBUX SYK TER UMBF UNM

Wednesday (Jan 31)

• Morning: APTV ADP AVY AVT BA BSX BV EAT COR CMCO EVR EXTR FTV GSK GPI HES HESM LII MKTX MA NAVI NDAQ NYCB NVS ODFL OTIS PSX ROK ROP SLGN SLAB TEVA TMO UMC
• Afternoon: EGHT AFL ALGN AVB AXS BHE BOOT BDN CHRW CCS CNMD CLB CTVA CACC DGII FLEX THG KLIC LSTR MXL MTH MET MTG PTC QRVO QCOM RYN SEIC SIGI TTEK UGI VSTO WOLF

Thursday (Feb 1)

• Morning: FLWS ALGM MO ATI ATKR BALL BDX BR BIP BC CAH CMS DLX LPG DOV ETN EPD HON HII ITW IP JHG KEX LANC LAZ MTSI MRK OCSL PH PTON PBI DGX RVTY RCL SBH SNY SNDR SIRI SR SWK SXC TECH TSCO TT WNC WEC WRK
• Afternoon: ATGE AMZN AAPL TEAM BZH CPT CLFD CLX COLM COUR DECK DLB DXC EMN EXPO GEN HIG HOLX HLI HUBG KMPR LESL LPLA META MCHP MTX NOV POST RGA SKX SNCY SKYW X VIAV

Friday (Feb 2)

• Morning: ABBV AON BMY CHTR CVX CHD XOM GWW IMO LYB PIPR REGN SAIA CI TWST WT
• Afternoon: CBOE

=Mondelez Int'l (MDLZ) reported earnings on Tue 29 Oct 2019 (a/h)

Mondelez Int'l beats by $0.04, reports revs in-line; raises FY19 guidance

Reports Q3 (Sep) earnings of $0.64 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of $0.60; revenues rose 1.1% year/year to $6.36 bln vs the $6.34 bln S&P Capital IQ Consensus.

After strong year-to-date performance, the company now expects Organic Net Revenue growth of 3.5%+ (prior guidance 3%+). The company now expects Adjusted EPS growth of 5 to 7 percent on a constant-currency basis (prior guidance 5%). The company estimates currency translation would decrease net revenue growth by approximately 4% (prior guidance 3%) with a negative $0.14 impact to Adjusted EPS (prior guidance $0.11). In addition, the company continues to expect Free Cash Flow of approximately $2.8 bln.

=Mondelez Int'l (MDLZ) reported earnings on Wed 25 July 2018 (a/h)

Mondelez Int'l beats by $0.02, reports revs in-line; raises full-year organic net revenue growth 

• Reports Q2 (Jun) earnings of $0.56 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.54; revenues rose 2.1% year/year to $6.11 bln vs the $6.12 bln Capital IQ Consensus.
• Full year 2018 outlook:
  • Organic Net Revenue growth to the high end of the previous range of 1 to 2 percent.
  • The company maintained its outlook for Adjusted Operating Income margin of approximately 17 percent and double-digit Adjusted EPS growth on a constant-currency basis.
  • The company estimates currency translation would decrease net revenue growth by approximately 1 percent with no impact to Adjusted EPS.
  • The company continues to expect Free Cash Flow of approximately $2.8 billion.

Earnings this week : July 23 - 27, 2018 (wk 30)

This week marks the first of three very heavy weeks of earnings reports -- roughly 1/3 of the S&P 500 will report quarterly results.

Monday (July 23)

• Morning: ITW HAL PHG HAS LII
• Afternoon: GOOG GOOGL AMTD CDNS STLD ZION WHR

Tuesday (July 24)

• Morning: VZ MMM UTX LLY LMT BIIB SHW KMB CNC PCAR IQV DGX WAT EDU TRU WAB
• Afternoon: T TXN SYK CB EQR AMP WCN TSS CSGP IEX WRB RHI TER CSL MKSI  USNA

Wednesday (July 25)

• Morning: UMC BA KO UPS TMO NEE ANTM GD NOC GM BSX NSC HCA WM AEP TEL SIRI SRE TROW APH FCAU HLT GLW FCX IR ROK DTE HES LH STM CHKP S GRUB USG SIX TRVG IMAX  OC  TUP

• Afternoon: FB V PYPL GILD QCOM MDLZ LVS VRTX F SU NOW ALGN ORLY XLNX MHK AMD EFX CTXS FTI RJF PKG UHS VAR AEM FFIV SNBR ECHO

  DRE TMK AGNC GGG SUI MEOH KRC EHC DLB KNX MPWR MAT CW TRN KEX CHE CLB AXS LSTR CLGX ASGN STAY FR CUZ MSA NGVT CVRR JBT CCMP ESV LM QEP ESRT PEB OII DDR ARI ALGT DRQ ROIC QTS FOE MTH FWRD BEAT FCPT CDE KRA WPG EIG TILE FARO ETH ANIK SFS SB AXTI BPI ABX GG CCJ

Thursday (July 26)

• Morning: RDS.A MA CMCSA MCD AUO MO BMY COP AZN CELG AGN RTN CME SPGI PX VLO MMC BAX KDP APD MPC SPOT LUV ALXN ROP MPLX MCK AAL CVE DHI LLL YNDX MLCO NLSN UAA PHM ALK ALKS RS HP XRX WWE DNKN B SAVE ALLY OAK CPG  AAN    NGD   

     XEL TAL IP PCG NEM HSY ABMD TECK AAL  EQT KKR CNHI MLM CMS YNDX LEA ODFL IVZ  LKQ LDOS TSCO BWA UAA PHM ALLE ICLR AXTA WST CFR  KIM EQM LAZ NOK NRZ ORI FAF BC UTHR CRI ENTG GRA EME VLY ADNT FCFS PAG SPB ARD BMS UBSI COR RDN VC PRLB PTEN SYNT NVCR  PENN COLB DLX TREE AB TPX VLP  FCN GWB NTCT AXE TSEM MNRO MINI CWT THRM PATK 

• Afternoon: LOGM  AUY  AMZN INTC AMGN SBUX EA AFL EW LRCX FTV DFS DLR WDC EIX EXPE HIG VRSN MXIM NOV TEAM CMG JNPR COLM PFPT FSLR BYD RARE FHB SAM NCR ISBC ELLI DECK SKYW BOFI EGHT IMPV ABAX MATW FIX MSTR 

Friday (July 27)

• Morning: GT  VIRT   XOM CVX MRK ABBV CL PSX AON MCO TWTR WY SYF ZBH

Dr Pepper Snapple (DPS) and Keurig Green Mountain to merge

• JAB will acquire a Plano, Texas-based group best-known for sugary drinks, such as Dr Pepper, Snapple, A & W root beer and Sunkist orange soda. The group was spun off from Cadbury Schweppes in 2008.
• Mondelez International, which partnered with JAB on its December 2015 takeover of Keurig, will own around 13 to 14 per cent of the combined group.
• Germany's JAB Holding: owners of Keurig Green Mountain, Krispy Kreme, Panera Bread, Einstein Bros. Bagels, Caribou Coffee, Peet's Coffee & Tea, Mighty Leaf Tea, Jacobs Douwe Egberts.  About 20% of U.S. households use Keurig’s coffee-pod system. 
• Update 7/15/18 below

   

** charts after announcement **

 

Dr Pepper Snapple and Keurig Green Mountain to merge -- DPS shareholders will receive $103.75/share in a special cash dividend and retain 13% of the combined company 

Keurig Dr Pepper will have pro forma combined 2017 annual revenues of approximately $11 billion. The company believes its complementary portfolio, access to high-growth segments of the beverage industry and shareholder value-focused management team will enable it to achieve sustained growth through continued innovation, brand consolidation opportunities and enhanced household penetration for its leading brands.

• KDP targets realizing $600 million in synergies on an annualized basis by 2021. Dr Pepper Snapple expects to pay its first quarter ordinary course dividend of $0.58 per share. At the close of the transaction, the company expects to deliver an annual dividend of $0.60 per share.
• The company will deliver strong cash flow generation and accelerate its deleveraging, with a target Net Debt/EBITDA of below 3.0x within two to three years after closing. KDP anticipates total net debt at closing to be approximately $16.6 billion and it anticipates maintaining an investment grade rating.
• JAB Holding Company, a global investment firm with a proven track record of investing long-term capital in global consumer brands, and its partners, will together make an equity investment of $9 billion as part of the financing of the transaction. JAB will be investing equity capital from JAB Holding Company as well as through JAB Consumer Fund, an investment fund backed by a group of like-minded, long-term oriented investors. Both JAB Holding Company and JAB Consumer Fund are overseen by three senior partners: Peter Harf, Bart Becht and Olivier Goudet. Entities affiliated with BDT Capital Partners, a Chicago-based merchant bank that provides long-term private capital and advice to closely held companies, are also investing alongside JAB. Upon closing of the transaction, JAB will be the controlling shareholder. Mondelez International (MDLZ), JAB's partner in Keurig, will hold an approximately 13-14% stake in the combined company.

*********

Update 7/15/18

Keurig Dr Pepper (KDP) https://www.drpeppersnapplegroup.com/

Keurig Dr Pepper's first week post-merger brings a defection, an acquisition and new volleys in coffee wars

• Dr Pepper Snapple Group's this week closed its merger with Keurig Green Mountain.
• The deal has cast uncertainty on Keurig Dr Pepper's so-called "Allied Brands," trendy drinks it distributes but does not own.
• Fiji announced this week it will leave Keurig Dr Pepper's distribution network. Another Allied Brand, Big Red, this week signed an agreement to sell to KDP.

The deal, which closed Monday, creates a beverage giant with $11 billion in revenue that combines Dr Pepper Snapple's drink and distribution network with Keurig' Green Mountain's coffee business. The giant is backed by JAB Holding, the investment firm that has put together a coffee-fueled empire that already includes Krispy Kreme and Panera Bread.

This week's shake-up, though, is among brands far smaller than the iconic drinks for which both companies are named. Instead, it's within the collection of trendy beverages Keurig Dr Pepper distributes through its "Allied Brands" network. A sizable chunk of the company's revenue comes from distributing drinks made by other companies, including brands like Fiji Water, BodyArmor and Vita Coco.

The loss of Fiji, while minuscule to Keurig Dr Pepper's bottom line, is a bruise nonetheless.

The premium water brand is owned by privately held The Wonderful Co., the $4 billion owner of POM Wonderful pomegranate juices, Landmark Wines, Wonderful Almonds, and other trendy drinks and snacks.

Premium water is among the beverage industry's fastest-growing categories as consumers eschew sweeteners and artificial ingredients. It provided a balance to Dr Pepper Snapple's legacy portfolio of drinks dominated by sugary soda brands, like 7UP, A&W Root Beer and Crush.

** charts before  announcement **

 

=Mondelez Int'l (MDLZ) reported earnings on Mon 30 Oct 2017 (a/h)

Mondelez Int'l beats by $0.03, beats on revs; reaffirms FY17 EPS; tweaks rev lower 

• Reports Q3 (Sep) earnings of $0.57 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.54; revenues rose 2.1% year/year to $6.53 bln vs the $6.45 bln Capital IQ Consensus, driven by Organic Net Revenue growth and currency tailwinds. Organic Net Revenue increased 2.8 percent, driven by the continued strength of our Power Brands as well as strong performance in Europe and emerging markets. The co also realized an estimated net positive impact of 60 basis points from delayed shipments that moved to the third quarter as the company recovered from the malware incident. Gross profit margin was 39.1 percent, an increase of 20 basis points, driven primarily by lower Restructuring Program implementation costs and favorable mark-to-market comparisons, partially offset by malware-related expenses. Adjusted Gross Profit margin was 39.5 percent, a decrease of 60 basis points, driven by higher input costs and select trade investments in some key markets, partially offset by continued net productivity gains.
• For 2017, the company now expects Organic Net Revenue growth to be ~1% (down from at least 1%) given the larger than expected impact from the malware incident. The company still expects Adjusted Operating Income margin in the mid-16 percent range and double-digit; Adjusted EPS growth on a constant-currency basis. The company estimates full year currency translation would not result in a change to net revenue growth or Adjusted EPS. In addition, the company still expects Free Cash Flow of ~$2 billion.

==Mondelez (MDLZ) to be acquired by Kraft Heinz (KHC) ?

(Bloomberg)—Mondelez International jumped in extended trading on a report that the global snack giant may be acquired by Kraft Heinz, the food company backed by Warren Buffett's Berkshire Hathaway and Jorge Paulo Lemann's 3G Capital.

Mondelez surged 9.7 percent to $47 at 4:27 p.m. in New York. Kraft Heinz advanced 1.9 percent. The Swiss economic magazine Bilanz reported on the possible takeover, citing a person it didn't identify.

Berkshire and 3G have been expanding in the food industry, taking ketchup maker H.J. Heinz private in 2013 and then merging it with Kraft Foods Group last year. The combined company has gained in market value as 3G slashed costs by cutting jobs and shutting factories. Mondelez, the maker of Oreo cookies, was previously part of Kraft, and the companies split in 2012.





** Update 15 Dec 2016 **
(Bloomberg) — Kraft Heinz Co. is not currently in talks to acquire Mondelez International Inc., according to people familiar with the matter.

An earlier report that the U.S. snack maker could be a target for the company sent shares higher. The report came from the magazine Bilanz, which cited a person it didn’t identify.

Mondelez rose 4.7 percent at 4:57 p.m. Chicago time yesterday while Kraft Heinz advanced 2.6 percent after Bilanz magazine reported that Kraft Heinz, backed by Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital, is planning a takeover, citing an unidentified source.

A spokesman for Mondelez declined to comment. Representatives for Kraft Heinz didn’t immediately respond to a request for comment.

Berkshire and 3G have been expanding in the food industry. They took ketchup maker H.J. Heinz private in 2013 and then merged it with Kraft Foods Group Inc. last year. The combined company has gained in market value as 3G slashed costs by cutting jobs and shutting factories. Mondelez, the maker of Oreo cookies, was previously part of Kraft, and the companies split in 2012.

=Mondelez Int'l (MDLZ) reported earnings on Wed 26 Oct 2016 (b/o)

Mondelez Int'l beats by $0.09, reports revs in-line; increases Adj-EPS outlook, trims organic net revenue growth outlook :

• Reports Q3 (Sep) earnings of $0.52 per share, $0.09 better than the Capital IQ Consensus of $0.43; revenues fell 6.6% year/year to $6.4 bln vs the $6.44 bln Capital IQ Consensus.
• Gross profit margin was 38.9 percent, a decrease of 10 basis points, driven primarily by higher Restructuring Program costs partially offset by the deconsolidation of the company's Venezuelan operations. Adjusted Gross Profit margin was 39.9 percent, an increase of 30 basis points. Strong net productivity and improved volume/mix was mostly offset by higher trade investments in a few key markets.
• FY16 Outlook:
  • Organic Net Revenue Growth: The company now sees growth of ~1.6% (Prior +~2%)
  • Adjusted Operating Income Margin: Continues to see margins of 15-16%
  • Adj-EPS: Now sees growth of ~25% on a constant currency basis (Prior: Double digit growth)
  • FCF: Continues to see FCF of at least $1.4 bln
  • Based on foreign exchange rates as of Oct. 21, 2016, there would be a negative translation impact on full year net revenue growth of approximately 4 percentage points and on full year Adjusted EPS of approximately $0.093 (from approximately $0.08).

Hershey (HSY) receives a takeover bid from Mondelez (MDLZ)

Update 8/29/16: Mondelez ends effort to acquire Hershey Co.

    

Mondelez International is attempting to buy chocolate company Hershey, move its global chocolate headquarters to Pennsylvania and rename the company Hershey, the Wall Street Journal reports, citing people familiar with the deal.

Deerfield, Illinois-based Mondelez, the global snacks company that makes Oreo cookies and Ritz Crackers, recently sent a letter to Hershey proposing the combination, the Journal writes. As part of the proposal, Mondelez is pledging to protect jobs following any merger and move its chocolate headquarters to Hershey's home in Hershey, Pa.  Hershey's market capitalization increased to $24.5 billion after the stock's jump. Mondelez's stock surged 2.1%, taking its market cap up to $68.1 billion.

• Merged company to be called Hershey
• HQ in Pennsylvania
• No job cuts in Pennsylvania
• Kit Kat license would go back to Nestlé
• Contingent on approval from the Hershey Trust
• Hershey said on Thursday it had rejected the $23 billion preliminary offer by Mondelez

 

Holding the key to the sale of America's second-biggest candy company is a scandal-scarred, $12 billion charity that all but owns Hershey, Pennsylvania.

Hershey Trust Co. controls about 80 percent of Hershey Co., guides the 107-year-old Milton Hershey School, and oversees an amusement park and resort in the town of about 14,000.

Its 10 trustees have been averse to deals, scuttling efforts to separate them from their candy-coated source of cash.

=Mondelez (MDLZ) reported Q1 earnings on Wed 27 Apr 2016 (b/o)

Mondelez Int'l beats by $0.09, reports revs in-line; reaffirms guidance :

• Reports Q1 (Mar) earnings of $0.48 per share, excluding non-recurring items, $0.09 better thanthe Capital IQ Consensus of $0.39; revenues fell 16.8% year/year to $6.46 bln vs the $6.42 bln Capital IQ Consensus. Operating Income margin was 11.2%, up 80 basis points; Adjusted operating income margin expanded 240 basis points to 15.1%.
  • Organic Net Revenue grew 2.1%, as the company increased volume/mix in developed markets and raised prices to recover currency-driven input cost inflation in inflationary markets. Power Brands2 grew 3.8 percent. Organic Net Revenue from emerging markets3 was up 3.6 percent and developed markets4 increased 1.3 percent.
• Mark Clouse, Chief Commercial Officer, to leave company to become CEO of a North American publicly traded food company
• Reaffirms guidance: Organic Net Revenue Growth at least 2% (reduces FX headwind to 300 bps from 600 bps); Adjusted Operating Income Margin 15% to 16%; Adjusted EPS Double-digit growth on a constant currency basis (FX headwind to $0.05 from $0.13); Free Cash Flow excluding items at least $1.4 billion.