Mondelēz reported higher third-quarter revenue and earnings, with growth led by volume and mix. The company also announced an agreement to acquire Undercover Snacks, a maker of crunchy quinoa crisps, as it expands in what it calls the “permissible indulgence” segment.
- Revenue and volume: Net revenue increased 2.3% from a year earlier, while organic net revenue rose 2.1%. Volume/mix increased 1.8%.
- Earnings: Diluted earnings per share rose 78.9% to $1.02. Adjusted EPS was $0.78, up 5.5% on a constant-currency basis.
- Cash generation and shareholder returns: For the first nine months of 2026, cash provided by operating activities was $2.6 billion and free cash flow was $1.7 billion. Mondelēz said it had returned $2.8 billion to shareholders through the third quarter.
- Undercover Snacks agreement: The business makes crunchy quinoa crisps in chocolate and frosted varieties. Mondelēz described the products as having simple ingredients and said it sees room to expand household penetration and distribution. The announcement did not provide deal pricing or a closing timetable.
- Management’s message: Chief Executive Dirk Van de Put pointed to broad-based volume growth and share performance, and said the company is continuing to invest in its brands, innovation and distribution.
The reported EPS increase was much larger than the gain in adjusted EPS; the results provided here do not explain the difference. The acquisition, if completed, would add a snack line to Mondelēz’s portfolio as it pursues growth in permissible indulgence.