Mondelez Posts 2.1% Organic Growth in Q3
The snacking giant reported higher revenue in emerging markets while maintaining its full-year 2026 outlook.
Updated on Nov. 6, 2026 in Organic Food
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Mondelez International reported total net revenue of $9,967 million in the third quarter of 2026, up 2.3% year-on-year, with organic net revenue growth of 2.1%. Growth was led by emerging markets, where organic net revenue rose 4.1%.
Why it matters
Emerging markets now account for about 40% of Mondelez's business, making regional performance a key indicator of the company's overall trajectory. Volume and mix drove most of the organic growth, pointing to demand rather than price increases alone.
Volume/mix contributed 1.8 percentage points and higher net pricing 0.3 points to Q3 organic growth, while the chocolate business grew 0.6%. Reported gross profit rose 50.2% to $3,924 million, though the company attributed much of that jump to favourable mark-to-market derivative effects.
The players
Mondelez International
A global snacks company that owns brands such as Oreo, Cadbury and Ritz, with a large share of its sales generated in emerging markets.
The details
Growth was strongest in India, Australia/New Zealand and Southeast Asia, which drove the AMEA region's 7.7% revenue increase, while Europe returned to positive volume growth and North America recorded solid gains. Adjusted gross profit margin expanded 3.8 percentage points to 34.2% on lower raw material and manufacturing costs and productivity improvements.
Timeline
Year-to-date net revenue through September reached $29,402 million, up 4.9%.
Q3 2026 results reported with organic net revenue growth of 2.1%.
Full-year FY2026 outlook maintained.
Company continues to expect strong EPS growth in FY2027.
Market Landscape
Mondelez's reliance on volume growth rather than price increases reflects a broader shift among packaged-food makers after the pricing-led expansion of recent years. Its emerging-market concentration places it in direct competition with regional and global snack rivals for share in fast-growing consumer markets.
Shoppers in emerging markets may see continued product availability and steady pricing for Mondelez brands as volume growth supports supply. Household budgets are unlikely to see sharp changes from this report alone, since the company maintained its outlook rather than announcing new price moves.
The takeaway
Investors and consumers alike should watch whether volume-led growth continues in emerging markets, as it will signal whether the company's expansion is durable beyond pricing.
Further reading
Explore more about Organic Food trends shaping the packaged-food industry.
Source note: This article includes information reported by Storyboard18.
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