Mondelez International (MDLZ) Q1 FY2026 earnings: revenue $10.1 billion, up 8.2% on the year

Mondelez International, Inc. (MDLZ) reported revenue of $10.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 8.2% on the same quarter a year earlier. Net income was $560 million, up 39.3% on the year, and diluted earnings per share $0.44. The figures are the company's own, from the 10-Q it filed with the SEC on 28 April 2026.

Revenue

$10.1 billion

+8.2% on the year · -4.0% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

8.0%

7.3% a year earlier

Q2 FY2024Q1 FY2026

Net income

$560 million

+39.3% on the year · -15.8% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$0.44

+41.9% on the year · -13.7% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 5 kept.

Adjusted EPS fell on operations: Adjusted EPS was $0.67, down 9.5 percent reported and 14.9 percent at constant currency; management attributed the decline to operating declines and higher income taxes.
Adjusted operating margin fell 3.1 points: Adjusted operating income was $1,182 million, down 14.0 percent reported and 19.0 percent at constant currency; reported operating income was $808 million, up 18.8 percent.
Europe organic sales declined: Europe net revenues rose 9.0 percent to $3,871 million, but organic growth was negative 0.6 percent, with volume/mix down 3.2 points; adjusted operating income fell 24.7 percent to $357 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	10,080	10,496	9,313	-4.0%	+8.2%
Cost of revenue	7,277	7,540	6,883	-3.5%	+5.7%
Gross profit	2,803	2,956	2,430	-5.2%	+15.3%
Gross margin	27.8%	28.2%	26.1%
Selling, general and administrative	1,916	1,942	1,711	-1.3%	+12.0%
Operating income	808	952	680	-15.1%	+18.8%
Operating margin	8.0%	9.1%	7.3%
Interest expense	148	154	137	-3.9%	+8.0%
Pre-tax income	775	919	545	-15.7%	+42.2%
Income tax	228	261	154	-12.6%	+48.1%
Effective tax rate	29.4%	28.4%	28.3%
Net income	560	665	402	-15.8%	+39.3%
Net margin	5.6%	6.3%	4.3%
Diluted EPS	$0.44	$0.51	$0.31	-13.7%	+41.9%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	467	2,397	1,092	-80.5%	-57.2%
Capital expenditure	312	398	277	-21.6%	+12.6%
Free cash flow	155	1,999	815	-92.2%	-81.0%
Free cash flow margin	1.5%	19.0%	8.8%
Cash from investing	-422	-266	-251
Cash from financing	-604	-1,413	-704
Depreciation and amortisation	343	352	324	-2.6%	+5.9%
Share-based compensation	29.0	30.0	18.0	-3.3%	+61.1%
Buybacks	0.0	492	1,522
Dividends paid	644	645	623	-0.2%	+3.4%
Dividend per share	$0.50	n/a	$0.47		+6.4%
Diluted shares, weighted	1,286m	1,292m	1,305m	-0.5%	-1.5%
Shares outstanding at period end	1,284m	1,282m	1,295m	+0.1%	-0.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	25,750	25,838	25,785	-0.3%	-0.1%
Non-controlling interest	54.0	53.0	38.0	+1.9%	+42.1%
Debt	21,024	21,205	19,538	-0.9%	+7.6%
Operating lease liabilities	598	599	617	-0.2%	-3.1%
Finance lease liabilities	n/a	286	n/a
Other liabilities	23,696	23,506	22,949	+0.8%	+3.3%
Total liabilities and equity	71,122	71,487	68,927	-0.5%	+3.2%
Goodwill	24,226	24,336	23,439	-0.5%	+3.4%
Intangible assets	19,533	19,628	19,130	-0.5%	+2.1%
Cash and equivalents	1,631	2,195	1,625	-25.7%	+0.4%
Receivables	4,397	3,903	4,318	+12.7%	+1.8%
Inventory	4,079	4,419	4,255	-7.7%	-4.1%
Other assets	17,256	17,006	16,160	+1.5%	+6.8%
Total assets	71,122	71,487	68,927	-0.5%	+3.2%

Questions

What was Mondelez International's revenue in Q1 FY2026?

Mondelez International (MDLZ) reported revenue of $10.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 8.2% on the same quarter a year earlier.

How much did Mondelez International earn in Q1 FY2026?

Net income for Q1 FY2026 was $560 million, up 39.3% on the year, and diluted earnings per share $0.44.

When did Mondelez International report Q1 FY2026 results?

Mondelez International filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 28 April 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	7,658	7,764	7,274	7,763	8,695	9,166	8,507	9,029	9,314	9,290	8,343	9,204	9,604	9,313	8,984	9,744	10,496	10,080	9,355	9,967
Cost of revenue	4,825	4,781	4,633	5,150	5,620	5,720	5,153	5,535	5,844	4,540	5,546	6,205	5,893	6,883	6,047	7,132	7,540	7,277	5,369	6,043
Gross profit	2,833	2,983	2,641	2,613	3,075	3,446	3,354	3,494	3,470	4,750	2,797	2,999	3,711	2,430	2,937	2,612	2,956	2,803	3,986	3,924
Gross margin	37%	38%	36%	34%	35%	38%	39%	39%	37%	51%	34%	33%	39%	26%	33%	27%	28%	28%	43%	39%
SG&A	1,670	1,693	1,676	1,884	2,131	1,855	1,869	2,019	2,259	1,938	1,891	1,630	1,980	1,711	1,725	1,795	1,942	1,916	2,001	2,012
Operating income	1,204	1,094	927	679	834	1,505	1,425	1,379	1,193	2,727	854	1,153	1,611	680	1,172	744	952	808	1,946	1,758
Operating margin	16%	14%	13%	9%	10%	16%	17%	15%	13%	29%	10%	13%	17%	7%	13%	8%	9%	8%	21%	18%
Interest expense	90.0	91.0	89.0	114	134	153	145	134	118	122	130	129	127	137	151	157	154	148	144	147
Pre-tax income	1,143	959	859	638	772	2,225	1,161	1,331	1,163	2,682	850	1,132	1,597	545	855	695	919	775	1,899	1,721
Tax rate	21%	22%	23%	29%	35%	30%	23%	27%	22%	24%	35%	29%	14%	28%	27%	20%	28%	29%	19%	25%
Net income	1,003	855	747	532	583	2,081	944	984	950	1,412	601	853	1,745	402	641	743	665	560	1,548	1,305
Net margin	13%	11%	10%	7%	7%	23%	11%	11%	10%	15%	7%	9%	18%	4%	7%	8%	6%	6%	17%	13%
Diluted EPS	$0.71	$0.61	$0.54	$0.39	$0.42	$1.52	$0.69	$0.72	$0.70	$1.04	$0.45	$0.63	$1.30	$0.31	$0.49	$0.57	$0.51	$0.44	$1.20	$1.02
Operating cash flow	1,421	1,131	836	549	1,392	1,123	850	1,177	1,564	1,324	822	1,305	1,459	1,092	308	717	2,397	467	855	1,284
Capital expenditure	326	167	218	236	285	223	272	285	332	299	367	316	405	277	305	299	398	312	342	293
Free cash flow	1,095	964	618	313	1,107	900	578	892	1,232	1,025	455	989	1,054	815	3.0	418	1,999	155	513	991
Buybacks	286	751	755	332	179	399	197	63.0	888	568	506	113	1,147	1,522	131	240	492	0.0	212	633
Dividends paid	489	491	486	480	528	529	526	526	579	578	573	571	627	623	610	609	645	644	643	640
Shares outstanding	1,388m	1,384m	1,371m	1,366m	1,363m	1,362m	1,360m	1,361m	1,346m	1,341m	1,336m	1,337m	1,294m	1,295m	1,294m	1,290m	1,282m	1,284m	1,276m	1,266m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 28 April 2026: the filing.