Mondelez (MDLZ) Q3 FY25 earnings call

Mondelez faced headwinds in Q3 FY25, primarily from higher-than-anticipated chocolate elasticity in Europe and a softening US biscuit market, exacerbated by cocoa price increases. The company is adjusting pricing strategies and increasing investments in key brands and channels, particularly in emerging markets and premium segments, while also initiating a multi-year North America supply chain program to drive efficiency. Management is confident in achieving high single-digit EPS growth in FY26, leveraging expected cocoa deflation and strategic investments.