Mondelez’s volumes improve as it agrees to buy control of Undercover

Mondelez ($MDLZ) reported third-quarter 2026 revenue of $9.97 billion, up 2.3%, with organic growth of 2.1%. Volume and mix contributed 1.8 percentage points, while pricing added 0.3 points. Adjusted EPS was $0.78, increasing 5.5% at constant exchange rates, and the adjusted operating margin widened to 13.9%. GAAP EPS of $1.02 rose much faster, with derivative fair-value movements affecting that comparison.

The company maintained its 2026 outlook for organic revenue growth of at least 2%, constant-currency adjusted EPS growth of 0–5%, and roughly $3 billion of free cash flow. It also disclosed an agreement to acquire a majority interest in Undercover Chocolate and Undercover Ingredients. Completion is expected in the first quarter of 2027, subject to regulatory clearance and customary conditions; the disclosed agreement is not a completed acquisition.

Sources:

• mondelezinternational.gcs-web.com
• Issuer release or filing via StockTitan