Rockford's Independent Newspaper

Mondelez posts better-than-expected 4Q earnings

DEERFIELD — Mondelez reported-better-than expected adjusted earnings for the fourth quarter Wednesday, helped by growing sales of Oreo cookies, Trident gum and its other well-known brands outside the U.S.

In fact, North America was the only region that the company reported a drop in fourth-quarter sales from a year ago. Sales grew 5 percent in Europe, its biggest market, and more than 4 percent in Latin America.

Mondelez, based in Deerfield, also makes Chips Ahoy cookies, Halls cough drops and Ritz crackers. Mondelez’s plant in Loves Park is the largest gum manufacturing facility in North America, according to the company.

It reported net income of $802 million, or 53 cents per share, in the three months ending Dec. 31.

Adjusted earnings came to 57 cents per share, a penny above what analysts expected, according to Zacks.

It reported revenue of $6.97 billion, matching what analysts expected.

For 2017, the company reported net income of $2.9 billion, or $1.91 per share. It posted revenue of $25.9 billion for the year. After its results were releases, shares of Mondelez International Inc. were down about 9 cents at $44.31 in after-hours trading Wednesday.

–Associated Press

404 Not Found

404 Not Found