By Ben Glickman


Mondelez International sales growth slowed in the fourth quarter and the company forecast slower organic growth in the next year, as consumers pulled back somewhat in the face of higher prices.

The Chicago-based snack foods company posted a profit of $950 million, or 70 cents a share, in the quarter ended Dec. 31, compared with $583 million, or 42 cents a share, a year earlier. Analysts polled by FactSet expected per-share earnings of 76 cents.

Stripping out certain one-time items, adjusted per-share earnings came to 84 cents, ahead of the 78 cents forecast by analysts, according to FactSet.

Revenue rose 7.1% to $9.31 billion, in line with analysts' expectations.

Mondelez said organic net revenue grew 9.8%, driven by pricing. Organic sales were hurt by unfavorable volume/mix.

Mondelez expects organic net revenue to grow 3% to 5% in 2024, compared with the about 6% growth expected by analysts polled by FactSet.

The company expects adjusted earnings per share to grow in the high single-digits on a constant currency basis.


Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

01-30-24 1632ET