Mondelez Int'l beats by $0.03, beats on revs; withdraws full-year outlook
- Reports Q1 (Mar) earnings of $0.69 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.66; revenues rose 2.6% year/year to $6.71 bln vs the $6.6 bln S&P Capital IQ Consensus.
- "We had a strong first quarter, with record market share gains, and executed very well in challenging circumstances, thanks to the dedication and commitment of our colleagues, especially those on the front line, who are working tirelessly to provide food to consumers around the world," said Dirk Van de Put, Chairman and Chief Executive Officer. "In the last month of the quarter, we saw a significant increase in consumer demand for our snacks in developed markets, particularly in North America, which more than offset a more challenging environment in several emerging markets.
- Due to the COVID-19 pandemic, visibility is limited at this time in a number of markets, so the company is temporarily withdrawing its full-year outlook.