Mondelez (MDLZ) Q1 FY26 earnings call

Mondelez delivered a strong Q1 FY26, driven by robust performance in emerging markets and improving trends in developed markets, particularly Europe. Despite exceeding expectations, the company reaffirmed its full-year EPS guidance, citing new headwinds from the Middle East crisis and a strategic decision to reinvest potential upside back into the business to fuel future growth, especially towards a strong FY27 EPS. The U.S. consumer remains cautious, but North America expects sequential improvement in H2.