Mondelez International stock adds Undercover deal after Q3 rebound

Published on 11/03/2026 at 13:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mondelez International stock follows a quarter of renewed volume growth and stronger adjusted earnings. The company also agreed to buy Undercover Snacks.

Volume Growth And Portfolio Expansion

Third-quarter organic net revenue rose 2.1 percent, led by a 1.8-percentage-point volume and mix contribution.
Adjusted earnings per share increased 5.5 percent on a constant-currency basis to 0.78 US dollars.
Mondel?z reaffirmed its 2026 outlook and agreed to acquire a majority stake in Undercover Snacks.

Mondelez International, US6092071058, Illustration mit AI erstellt.

Mondel?z International reported its third-quarter results on Thursday, October 29, 2026, with renewed volume momentum and a new portfolio transaction. In its Q3 results release, the snack maker said net revenue increased 2.3 percent to 9.967 billion US dollars.

Organic net revenue grew 2.1 percent. Volume and mix contributed 1.8 percentage points, while pricing added 0.3 percentage points. The company said all four regions delivered flat or positive volume and mix, with the strongest organic growth in Asia, the Middle East and Africa at 7.7 percent and Latin America at 6.9 percent. Europe declined 2.1 percent organically, while North America grew 1.6 percent.

Adjusted Earnings Improve

Reported diluted earnings per share rose 78.9 percent to 1.02 US dollars. Mondel?z attributed the increase partly to more favorable mark-to-market effects from commodity and foreign-currency derivatives, lower comparison items and other non-recurring effects. Adjusted earnings per share, which exclude specified items affecting comparability, increased 5.5 percent on a constant-currency basis to 0.78 US dollars.

Adjusted gross margin expanded to 34.2 percent, up 3.8 percentage points from the prior-year quarter. The company cited lower raw-material and manufacturing costs, productivity, higher pricing and favorable volume and mix. Adjusted operating margin reached 13.9 percent, an increase of 1.9 percentage points on a constant-currency basis.

Undercover Adds A New Snack Angle

Mondel?z also announced an agreement to acquire a majority stake in Undercover Snacks, a US snack business known for chocolate-covered and frosted quinoa crisps. The company described the brand as an addition to its permissible-indulgence strategy and said founder and CEO Diana Levy would continue to lead the business within its North America Ventures unit. The transaction is expected to close in early 2027, subject to regulatory review and customary closing conditions.

For investors, the deal broadens Mondel?z's exposure to snacks positioned around simple ingredients and perceived health benefits. The quarter's volume performance is also significant after earlier pressure from pricing and weaker demand, although regional trends remain uneven and the company continues to face commodity, inflation and consumer-spending risks.

Outlook Remains Unchanged

Mondel?z reaffirmed its 2026 outlook for organic net revenue growth of at least 2 percent and adjusted earnings-per-share growth ranging from flat to 5 percent on a constant-currency basis. It expects free cash flow of approximately 3 billion US dollars. Management said continued investment in brands, innovation and distribution should support volume-led growth, while noting elevated geopolitical, trade, regulatory and commodity uncertainty.

Mondel?z International stock traded at 59.09 euros on Lang & Schwarz at 1:44 p.m. CET on Tuesday, November 3, 2026. Investors can follow the real-time quote of Mondelez International stock.