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Will Mondelez's Organic Sales Growth Keep Momentum Going in 2026?
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Key Takeaways
Mondelez grew organic net revenues 4.3% in 2025, accelerating to 5.1% in Q4.
Mondelez said pricing drove gains amid cocoa inflation, while volume/mix fell 3.7% in 2025.
MDLZ expects 2026 organic net revenues to be flat to up 2%, with reinvestment to lift volume.
After navigating an unusually volatile cost environment, Mondelez International, Inc. (MDLZ - Free Report) is balancing pricing discipline with the need to protect volumes. The question is whether organic sales growth, which held up in 2025 despite consumer pressure, can maintain its momentum as pricing moderates and category conditions remain soft.
Organic net revenues rose 4.3% for the full year and accelerated to 5.1% in the fourth quarter. Growth was primarily driven by higher net pricing, implemented to offset record levels of cocoa inflation. However, volume and mix declined 3.7% for the year and 4.8% in the fourth quarter. Elasticity in chocolate, revenue growth management actions and soft U.S. biscuit consumption weighed on volumes even as consumers continued to show loyalty to core brands.
For 2026, organic net revenues are expected to range from flat to an increase of 2%. The outlook reflects ongoing softness in category growth and select price investments to protect scale in key markets.
The plan also includes substantial reinvestment aimed at improving volume trends, expanding distribution and strengthening brand presence across channels and occasions. At the same time, the broader backdrop remains challenging, with soft consumer sentiment and commodity volatility shaping purchasing behavior.
Whether Mondelez can sustain organic sales momentum in 2026 will depend on how effectively it balances pricing, reinvestment and volume recovery. After a year led by pricing strength, the coming period shifts the focus toward stabilizing demand while navigating a cautious consumer environment.
Organic Sales Momentum at HSY, KHC and CAG
For The Hershey Company (HSY - Free Report) , organic constant-currency net sales increased 5.7% in the fourth quarter of 2025, driven primarily by net price realization of about 9%. Volume/mix declined 3%. For 2026, HSY expects reported net sales growth of 4% to 5%, supported by pricing, innovation and advertising investments. With elasticity and cocoa costs still in focus, The Hershey Company is balancing growth with margin recovery.
The Kraft Heinz Company (KHC - Free Report) saw its organic net sales drop 4.2% in the fourth quarter of 2025. During the quarter, KHC’s volume/mix fell 4.7%. For 2026, The Kraft Heinz Company expects organic net sales to decline in the range of 1.5%-3.5%, implying incremental SNAP headwinds.
Conagra Brands (CAG - Free Report) reported a 3% decline in organic net sales in second-quarter fiscal 2026 due to a 3% volume drop. CAG reaffirmed fiscal 2026 organic net sales guidance of a decline of 1% to an increase of 1%. Conagra Brands is aiming to stabilize volumes against a cautious consumer backdrop.
The Final Take on MDLZ
Organic sales continue to be shaped by how much pricing can contribute as shoppers stay cautious and whether volumes can stabilize after recent declines. For Mondelez, 2026 looks like a transition year as the company leans more on reinvestment and sharper execution, while the consumer backdrop remains cautious. The real test is whether these actions can improve demand trends and reduce volume pressure as pricing normalizes.
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Will Mondelez's Organic Sales Growth Keep Momentum Going in 2026?
Key Takeaways
After navigating an unusually volatile cost environment, Mondelez International, Inc. (MDLZ - Free Report) is balancing pricing discipline with the need to protect volumes. The question is whether organic sales growth, which held up in 2025 despite consumer pressure, can maintain its momentum as pricing moderates and category conditions remain soft.
Organic net revenues rose 4.3% for the full year and accelerated to 5.1% in the fourth quarter. Growth was primarily driven by higher net pricing, implemented to offset record levels of cocoa inflation. However, volume and mix declined 3.7% for the year and 4.8% in the fourth quarter. Elasticity in chocolate, revenue growth management actions and soft U.S. biscuit consumption weighed on volumes even as consumers continued to show loyalty to core brands.
For 2026, organic net revenues are expected to range from flat to an increase of 2%. The outlook reflects ongoing softness in category growth and select price investments to protect scale in key markets.
The plan also includes substantial reinvestment aimed at improving volume trends, expanding distribution and strengthening brand presence across channels and occasions. At the same time, the broader backdrop remains challenging, with soft consumer sentiment and commodity volatility shaping purchasing behavior.
Whether Mondelez can sustain organic sales momentum in 2026 will depend on how effectively it balances pricing, reinvestment and volume recovery. After a year led by pricing strength, the coming period shifts the focus toward stabilizing demand while navigating a cautious consumer environment.
Organic Sales Momentum at HSY, KHC and CAG
For The Hershey Company (HSY - Free Report) , organic constant-currency net sales increased 5.7% in the fourth quarter of 2025, driven primarily by net price realization of about 9%. Volume/mix declined 3%. For 2026, HSY expects reported net sales growth of 4% to 5%, supported by pricing, innovation and advertising investments. With elasticity and cocoa costs still in focus, The Hershey Company is balancing growth with margin recovery.
The Kraft Heinz Company (KHC - Free Report) saw its organic net sales drop 4.2% in the fourth quarter of 2025. During the quarter, KHC’s volume/mix fell 4.7%. For 2026, The Kraft Heinz Company expects organic net sales to decline in the range of 1.5%-3.5%, implying incremental SNAP headwinds.
Conagra Brands (CAG - Free Report) reported a 3% decline in organic net sales in second-quarter fiscal 2026 due to a 3% volume drop. CAG reaffirmed fiscal 2026 organic net sales guidance of a decline of 1% to an increase of 1%. Conagra Brands is aiming to stabilize volumes against a cautious consumer backdrop.
The Final Take on MDLZ
Organic sales continue to be shaped by how much pricing can contribute as shoppers stay cautious and whether volumes can stabilize after recent declines. For Mondelez, 2026 looks like a transition year as the company leans more on reinvestment and sharper execution, while the consumer backdrop remains cautious. The real test is whether these actions can improve demand trends and reduce volume pressure as pricing normalizes.