Mondelez Resets 2026 Outlook After Cocoa Cost Surge, Keeps 2028 Growth Targets
Mondelez told investors at CAGNY that surging cocoa commodity costs have disrupted near-term pricing and margin assumptions, triggering a reevaluation of 2026 cost structures. The snack maker reaffirmed its long-term targets of mid-single-digit organic revenue growth and margin expansion by 2028.
1. Cocoa Cost Shock Forces Outlook Reset
At its CAGNY investor presentation, Mondelez cited a significant surge in cocoa commodity prices that disrupted near-term pricing and cost assumptions, prompting a reset of its 2026 margin outlook and cost structure. The company said this cocoa price shock required adjustments to supply agreements and strategic pricing actions to mitigate margin pressure.
2. Reaffirms Long-Term Growth and Profitability Targets
Despite the near-term challenges, Mondelez reiterated its long-term objectives of achieving mid-single-digit organic revenue growth and expanding operating margins into the mid-teens by 2028, underscoring confidence in its pricing power and cost management initiatives.