Yahoo Finance Earnings To Watch: Mondelez (MDLZ) Reports Q2 Results Tomorrow
Packaged snacks company Mondelez (NASDAQ:MDLZ) will be reporting earnings tomorrow afternoon. Here's what to expect.
Mondelez beat analysts' revenue expectations by 1.5% last quarter, reporting revenues of $9.29 billion, up 3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' gross margin estimates and organic revenue growth estimates.
Is Mondelez a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Mondelez's revenue to grow 1.2% year on year to $8.45 billion, slowing from the 14.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.79 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 11 downward revisions over the last 30 days. Mondelez has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 3.2% on average.
Looking at Mondelez's peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. McCormick posted flat year-on-year revenue, meeting analysts' expectations, and Simply Good Foods reported revenues up 3.1%, in line with consensus estimates. McCormick traded up 4.8% following the results while Simply Good Foods's stock price was unchanged.
Read our full analysis of McCormick's results here and Simply Good Foods's results here.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 3.6% on average over the last month. Mondelez is up 2.4% during the same time and is heading into earnings with an average analyst price target of $78.8 (compared to the current share price of $66.82).
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