Mondelez reported adjusted fourth-quarter earnings per share of $0.72, topping the Zacks Consensus Estimate of $0.70 and marking an 11% increase from $0.65 in the year-ago period. Revenue came in above expectations, exceeding the consensus target of $10.29 billion, driven by broad-based growth across North America and EMEA. Organic net revenue rose by 6.5% year-over-year on a constant currency basis, reflecting solid volume gains in biscuits and chocolate snacks.

The quarter’s gross margin contracted by 180 basis points as persistent cocoa cost inflation drove input expenses higher. Mondelez’s operating profit declined to $665 million from $1.75 billion a year earlier, a 62% drop, in part due to a $450 million year-over-year increase in commodity and ingredient costs. The company attributed the margin squeeze primarily to a 20% rise in cocoa bean prices over the past twelve months.

Management highlighted pricing realization of 4.2% in the quarter, the highest level in five years, as key to offsetting cocoa inflation. Cost discipline initiatives, including route-to-market optimization and plant-level productivity programs, delivered $320 million in savings. These measures helped maintain adjusted operating margin at 11.8%, down from 17.5% in the prior year but above consensus forecasts of 11.5%.

For fiscal 2026, Mondelez forecasts organic net revenue growth of 4.5% to 5.5%, below the consensus expectation of 6.8%, and adjusted EPS in the range of $3.00 to $3.10, versus the $3.15 analysts had projected. The outlook assumes continued cocoa price pressure and modest volume recovery in emerging markets, with cost savings initiatives expected to contribute at least $1.2 billion of efficiency gains for the year.