Mondelez Int'l beats by $0.01, reports revs in-line; reaffirms guidance; creates Chief Commercial and Growth roles
- Reports Q3 (Sep) earnings of $0.42 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.41; revenues fell 17.8% year/year to $6.85 bln vs the $6.88 bln Capital IQ Consensus.
- Organic rev +3.7%, +17.4% in LatAm, +3.1% in Asia Pac, +6.3% EMEA, -1.6% Eu, +0.6% N. Am.
- Reaffirms FY15: Double digit constant FX adj. EPS growth, Organic net rev +3%, adj. operating margin ~14%
- Reaffirms FY16 adj. operating income margin 15-16%.
- Mondelez International also announced that it has named Mark Clouse, 47, to the newly created position of Chief Commercial Officer (CCO), and Tim Cofer, 46, as Chief Growth Officer (CGO), as the company continues to sharpen its focus on cost savings, growth and commercial execution.