Artem Voloskovets
The company also announced an agreement to acquire Undercover Snacks.
2026 Financial Guidance
| Metric | FY 2025 Actual | FY 2026 Outlook |
| Organic revenue growth | 4.3% | ~2% |
| Adjusted EPS | $2.92 | 0%–5% growth |
| Free cash flow | $3.2B | ~$3.0B |
Organic revenue growth is expected to slow by 2.3 percentage points from 2025. Projected free cash flow is approximately 6.3% below the prior-year level.
Guidance Comparison
| Metric | Initial 2026 Guidance | Latest Outlook |
| Organic revenue growth | 0%–2% | ~2% |
| Adjusted EPS growth | 0%–5% | 0%–5% |
| Free cash flow | ~$3.0B | ~$3.0B |
The EPS and cash-flow forecasts remain unchanged.
Undercover Snacks Acquisition
Mondelez has agreed to acquire Undercover Snacks, a U.S. producer of chocolate-coated crispy quinoa snacks.
- Product segment: Chocolate-based, gluten-free snacks.
- Strategic objective: Expand Mondelez's better-for-you snack portfolio.
- Transaction value: Not disclosed.
- Closing date: Not specified.
- Expected earnings contribution: Not disclosed.
Operating Performance
In Q2 2026, Mondelez reported:
- Organic net revenue growth: 2.2%.
- Adjusted EPS: Down 2.7% at constant currency.
- Currency impact forecast: Approximately +2 percentage points to full-year reported revenue growth and +$0.05 to adjusted EPS.
Outlook
Mondelez projects slower organic growth than in 2025, limited adjusted earnings expansion and approximately $3 billion in free cash flow.
The Undercover Snacks acquisition expands its chocolate-snack portfolio, although the transaction's financial impact has not been disclosed.
Artem Voloskovets
