Mondelez stock gains volume momentum as Undercover deal expands portfolio

Mondel?z International reported stronger underlying momentum in the third quarter on October 29, 2026, while announcing an agreement to acquire a majority stake in Undercover Snacks. The company said the snack brand should broaden its position in the better-for-you and permissible-indulgence categories. The results and transaction were presented in the company’s Q3 2026 results release.

Mondel?z stock traded at 58.49 euros on Lang & Schwarz at 14:00 CET on Wednesday, November 4, 2026. Investors can follow the real-time quote of Mondelez International stock.

Volume growth strengthens the quarter

Net revenue rose 2.3 percent year over year to 9.967 billion US dollars. Organic net revenue increased 2.1 percent, supported by a 1.8 percentage-point contribution from volume and mix and a 0.3 percentage-point pricing contribution. Management said the volume and mix performance was broad-based, with all four regions flat to positive on that measure.

Regional trends remained uneven. Organic revenue grew 7.7 percent in Asia, Middle East and Africa and 6.9 percent in Latin America. North America increased 1.6 percent organically, while Europe declined 2.1 percent. North American volume and mix were flat, making pricing the main contributor to the region’s organic growth.

Profitability benefits from lower costs

Reported diluted earnings per share climbed 78.9 percent to 1.02 US dollars. The reported comparison benefited from changes in mark-to-market effects on commodity and foreign-currency derivatives, acquisition-related items and the prior-year pension participation charge. Those effects make the reported increase less representative of recurring operating momentum.

On the company’s adjusted basis, earnings per share rose 5.5 percent at constant currency to 0.78 US dollars. Adjusted gross profit increased 14.0 percent at constant currency, while adjusted operating income grew 17.0 percent. Mondel?z attributed the improvement mainly to lower raw-material and manufacturing costs, productivity, pricing and favorable volume/mix, partly offset by higher selling, general and administrative expenses and advertising and consumer promotion costs.

Undercover adds a health-focused angle

The Undercover agreement covers a majority stake in a US-based business selling crunchy quinoa crisps in chocolate-coated and frosted varieties. Financial terms were not disclosed in the company release. Closing is subject to customary conditions, including regulatory approval, and is expected in the first quarter of 2027.

Chief Executive Dirk Van de Put described the transaction as a step toward healthier snacks and said the products could add household penetration and distribution. The deal therefore gives investors a portfolio signal beyond the quarter: Mondel?z is using acquisitions to supplement its established chocolate, biscuit and baked-snack brands as consumer preferences evolve.

Outlook remains intact

Management reaffirmed its 2026 outlook for organic net revenue growth of at least 2 percent and adjusted EPS growth between flat and 5 percent at constant currency. The company also expects free cash flow of approximately 3 billion US dollars. It continues to flag geopolitical, trade, regulatory and commodity-price volatility as risks to the forecast.

The S&P 500 remains the relevant market backdrop for this US-listed consumer-staples company; current market coverage provides the broader context.

For further company-specific coverage, see More news and analyses on Mondelez International stock.