Mondelez International (MDLZ) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Mondelez International published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Mondelez International reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Mondelez reports GAAP diluted EPS and a non-GAAP Adjusted EPS. The year-on-year Adjusted EPS growth it highlights (5.5%) is on a constant currency basis; at reported rates Adjusted EPS rose 6.8%.
• Year-ago net revenues of $9,744 million include $9 million from a North America divestiture, which Mondelez removes when it calculates Organic Net Revenue growth.

Source: Mondelez International Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Mondelez International splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Mondelez International's Latin America revenue was $1.4 billion in Q3 2026, up 12% from $1.2 billion in Q3 2025, 14% of total revenue.
• Mondelez International's Asia, Middle East & Africa revenue was $2.2 billion in Q3 2026, up 8% from $2.0 billion in Q3 2025, 22% of total revenue.
• Mondelez International's Europe revenue was $3.6 billion in Q3 2026, down 3% from $3.7 billion in Q3 2025, 36% of total revenue.
• Mondelez International's North America revenue was $2.8 billion in Q3 2026, up 1% from $2.8 billion in Q3 2025, 29% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Mondelez International said:

“For 2026, the company reaffirms Organic Net Revenue growth of at least 2 percent and Adjusted EPS growth in the range of flat to 5 percent on a constant currency basis.”

“The company also expects 2026 Free Cash Flow of approximately $3 billion.”

“Mondelēz International provides its outlook on a non-GAAP basis, as the company cannot predict some elements that are included in reported GAAP results, including future changes in foreign currency rates.”

Source: Mondelez International Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MDLZ forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net revenues and diluted EPS attributable to Mondelez International, each as first reported in that quarter's release.

We do not hold a confirmed date for Mondelez International's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Mondelez International sells snacks in over 150 countries and reports four regional segments. In Q3 2026 Europe was the largest at $3,552 million of $9,967 million in net revenues, followed by North America at $2,846 million, Asia, Middle East & Africa at $2,182 million and Latin America at $1,387 million. In 2025, 75.8% of net revenues came from outside the United States. (Mondelez International Q3 2026 release, Oct 29, 2026; Mondelez International Form 10-K, 2025, Feb 4, 2026)

By product category, Biscuits & Baked Snacks brought in $4,891 million in the quarter and Chocolate $3,091 million, with Gum & Candy at $1,154 million, Meals at $623 million and Beverages at $208 million. Brands include Oreo, Ritz, LU, Clif Bar and Tate's Bake Shop in biscuits and Cadbury Dairy Milk, Milka and Toblerone in chocolate. (Mondelez International Form 10-Q, Q3 2026, Oct 29, 2026; Mondelez International Q3 2026 release, Oct 29, 2026)

Net revenues rose 2.3%. Organic Net Revenue, which strips out currency and divestitures, grew 2.1%, made up of 1.8 percentage points of volume/mix and 0.3 points of pricing. Emerging markets grew 4.9% to $4,072 million and developed markets 0.5% to $5,895 million. (Mondelez International Q3 2026 release, Oct 29, 2026)

Europe was the only region to shrink. Its net revenues fell 3.3%, with pricing down 3.7 percentage points, which the 10-Q attributes primarily to lapping input cost-driven pricing actions taken in the prior year. Latin America grew 12.0% on 6.1 points of pricing, and Asia, Middle East & Africa grew 8.2% on 5.5 points of volume/mix. (Mondelez International Q3 2026 release, Oct 29, 2026; Mondelez International Form 10-Q, Q3 2026, Oct 29, 2026)

No single customer accounted for more than 10% of Mondelez's net revenues in 2025. Russia accounted for 3.7% of 2025 consolidated net revenues, and Mondelez has discontinued new capital investments and suspended advertising spending there. (Mondelez International Form 10-K, 2025, Feb 4, 2026)

Mondelez International's GAAP diluted EPS of $1.02 was well above its Adjusted EPS of $0.78 in Q3 2026. The largest gap was $543 million of mark-to-market gains from commodity and foreign currency derivatives, worth $0.34 a share, which Adjusted EPS excludes. Adjusted EPS also adds back restructuring charges ($0.04), intangible asset impairment charges of $64 million ($0.04) and ERP System Implementation costs ($0.04). (Mondelez International Q3 2026 release, Oct 29, 2026)

A year earlier the same derivatives produced $348 million of mark-to-market losses ($0.21 a share), and GAAP EPS of $0.57 also included a $169 million gain on equity method investment transactions. That swing explains most of the 78.9% rise in GAAP EPS. Adjusted EPS rose 6.8% at reported rates and 5.5% at constant currency, which Mondelez put down to operating increases and fewer shares outstanding, partly offset by higher income tax and interest. (Mondelez International Q3 2026 release, Oct 29, 2026)

Diluted average shares were 1,280 million, against 1,296 million a year earlier. Mondelez repurchased $671 million of common stock in the quarter and declared dividends of $0.520 per share. The adjusted effective tax rate was 27.0%, against 19.5% in Q3 2025. (Mondelez International Q3 2026 release, Oct 29, 2026; Mondelez International Form 10-Q, Q3 2026, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Mondelez International gives a full-year outlook on a non-GAAP basis only, because it cannot predict items in GAAP results such as currency moves. In its Q3 2026 release it reaffirmed 2026 Organic Net Revenue growth of at least 2 percent and Adjusted EPS growth of flat to 5 percent at constant currency, and expects about $3 billion of Free Cash Flow. (Mondelez International Q3 2026 release, Oct 29, 2026)

Mondelez estimates currency translation would add about 1.5 percent to 2026 net revenue growth and $0.04 to Adjusted EPS. Through the first nine months Organic Net Revenue grew 2.4% and Adjusted EPS fell 4.1% at constant currency. (Mondelez International Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Mondelez International, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Mondelez International's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MDLZ is on is MDLZ a buy or a sell?, what analysts expect next is on the MDLZ forecast, and what the company does is on the Mondelez International (MDLZ) stock page.

Every number on this page can be traced to a document Mondelez International published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.