Mondelēz's Q4 revenue boosted by snack demand and price hikes

Mondelēz International Inc. (Nasdaq: MDLZ) today reported fourth-quarter financials today, marking another year of strong top- and bottom-line results amid a challenging macro environment.

"We continued to execute well against our strategic growth initiatives with volume-led top-line growth, strong profitability, increased investments in brands and capabilities and strong free cash flow generation," said Dirk Van de Put, chairman and chief executive. "We further strengthened our portfolio with the addition of several growth accretive acquisitions, which increase our exposure to broader snacking categories and expanding profit pools"

Full year highlights

• Net revenues increased 8.0% driven by organic net revenue growth of 5.2%, favorable currency and acquisitions.
• Diluted EPS was $3.04, up 23.1%; adjusted EPS1 was $2.87, up 9.0% on a constant-currency basis
• Cash provided by operating activities was $4.1 billion, an increase of +$0.2 billion versus prior year.
• Free cash flow was $3.2 billion, an increase of $0.1 billion.
• Return of capital to shareholders was $3.9 billion.

Fourth-quarter highlights

• Net revenues increased 4.9% primarily driven by organic net revenue growth of 5.4%.
• Diluted EPS was $0.71, down 11.3%; adjusted EPS was $0.71, up 9.1% on a constant-currency basis.
• Return of capital to shareholders was $0.8 billion.