Mondelez International 3Q Profit Declines
01 Novembro 2022 - 5:52PM
Dow Jones News
By Kathryn Hardison
Mondelez International Inc. said rising expenses for raw
materials and transportation, as well as acquisition costs, dented
its profit in the third quarter.
The Chicago-based maker of Oreo cookies and Triscuit crackers
said its profit fell to $532 million, or 39 cents a share, compared
with $1.26 billion, or 89 cents a share, a year ago. Adjusted
per-share earnings came to 74 cents. Analysts polled by FactSet
expected 69 cents per adjusted share.
Sales rose 8.1% to $7.76 billion, ahead of analysts'
expectations of $7.44 billion.
The company said it logged higher acquisition-related costs in
the quarter as it closed its purchases of Clif Bar and
Ricolino.
Still, sales rose in the quarter, which Chief Executive Dirk Van
de Put said shows the resiliency of its snacking categories, even
as it raises prices.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
November 01, 2022 16:37 ET (20:37 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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