Mondelez Int'l beats by $0.01, misses on revs; guides FY14 EPS in-line
Reports Q2 (Jun) earnings of $0.40 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.39; revenues fell 1.8% year/year to $8.44 bln vs the $8.68 bln consensus.
- Co issues in-line guidance for FY14, sees EPS of $1.73-1.78 vs. $1.72 Capital IQ Consensus Estimate.
- "Our top line remains challenged by a combination of weaker category growth and some temporary customer and consumer dislocations, as we lead pricing in many of our key markets and categories. We anticipate revenue growth to improve in the second half as coffee pricing headwinds reverse and we cycle more favorable comparisons in China, but we expect the challenging operating environment to continue. As a result, we expect Organic Net Revenue growth in the range of 2 to 2.5 percent for the full year, down from our previous expectation of approximately 3 percent."