Snack giant signals steady 2026 outlook while reinvesting to revive volumes and protect iconic brands
Chicago, 6 February 2026 – Mondelez International has shared a cautious financial outlook for 2026, reflecting continued pressure from high cocoa prices and changing consumer spending habits. While the company expects some stabilization ahead, it is preparing for another challenging year as it balances pricing, volumes, and long-term brand investment.
For 2026, the Chicago-based snack maker expects adjusted earnings per share to range from flat to 5% growth, while organic net revenue is forecast to remain flat to slightly higher at up to 2%, excluding currency effects. Foreign exchange movements are expected to provide a modest lift to reported results. This outlook marks an improvement from 2025, when soaring cocoa costs weighed heavily on profitability.
Chief executive Dirk Van de Put said the company is entering the new fiscal year facing multiple pressures, including cautious consumer sentiment, commodity volatility, and an uncertain global environment. He emphasized that Mondelez plans to reinvest meaningfully in its brands, expand distribution, and improve volume trends while keeping a disciplined approach to capital allocation.
Cocoa prices have been a major challenge for the chocolate-focused company. Although prices have recently eased, Van de Put said much uncertainty remains. Most of Mondelez’s cocoa needs for 2026 have already been hedged, but at levels higher than current market prices. Industry-wide supply is expected to improve due to better weather in West Africa, increased production elsewhere, and softer demand.
For fiscal 2025, Mondelez reported net income of $2.45 billion, sharply lower than the previous year. Adjusted earnings also declined, reflecting the impact of higher input costs, currency movements, and one-time expenses. However, fourth-quarter results showed signs of recovery, with improved profitability driven by pricing actions and cost-saving initiatives.
Revenue growth in 2025 was largely driven by higher prices rather than increased sales volumes. Net revenue rose to $38.54 billion, while organic growth was supported by pricing gains that offset declining volumes. Outside North America, most regions delivered steady organic growth, highlighting the company’s strong international presence.
In the United States, performance remained weaker. Consumers continue to cut back due to cost-of-living pressures, leading to softer demand in the biscuits category. Many shoppers are trading down to value and club stores, while higher-income consumers are choosing premium or better-for-you snack options. Mondelez is responding by increasing advertising spend, adjusting pack sizes and pricing, expanding distribution in value-focused channels, and accelerating innovation in areas such as premium biscuits, protein bars, and healthier crackers.
Chocolate remained the strongest-performing category globally despite lower volumes, while gum, candy, and biscuits delivered more modest growth. Brands such as Oreo, LU, 7 Days, Perfect, and Zbar helped support performance in biscuits and baked snacks, which make up nearly half of the company’s total revenue.
Looking ahead, Mondelez believes the global snack market still offers solid long-term potential. The company is betting that continued brand strength, flexible pricing strategies, and targeted innovation will help it navigate short-term pressures and return to sustainable growth as commodity markets and consumer demand gradually stabilize.
