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MDLZ's organic net revenues rose 3% in Q1; volume/mix fell 0.5 pts on downsizing.
MDLZ's Emerging Markets revenues rose 6.3%, led by India and Brazil; volume/mix increased 0.5 pts.
MDLZ's sales rose in biscuits, chocolate and gum; chocolate volume/mix fell 2.1% on pricing and downsizing.
Mondelez International, Inc. (MDLZ - Free Report) entered 2026 with global consumers still facing cost-of-living pressure and economic uncertainty. Nonetheless, the company’s first-quarter 2026 update indicates that snacking demand remains broadly resilient, though performance varies by market and category.
Mondelez delivered 3% organic net revenue growth in the first quarter, while volume/mix declined 0.5 percentage points entirely due to package downsizing in select markets. Excluding that impact, the underlying volume/mix was positive, indicating steadier consumer demand than the headline figure suggests.
Emerging Markets offered the strongest evidence of resilience, with organic net revenues up 6.3% and volume/mix rising 0.5 percentage points, led by India and Brazil, along with solid growth in China and Southeast Asia. Developed Markets were mixed but improved, with organic net revenues up 0.8% despite a 1.2-percentage-point volume/mix decline. Europe faced pressure from cocoa-related pricing, revenue growth management and downsizing, while North America grew 0.5%, aided by sequential improvement in U.S. biscuits and strength in convenience, club and online channels.
Category trends also supported the view that snacking remains durable. Biscuits and baked snacks grew 1.7% in the quarter, chocolate rose 5.5%, and gum and candy increased 3.1%. However, chocolate volume/mix declined 2.1%, mainly due to pricing elasticities in parts of Europe, revenue growth management and downsizing actions.
Image Source: Zacks Investment Research
The broader takeaway is that snacking demand has not broken, but it has become more selective. Consumers are still buying into Mondelez’s core categories, especially in emerging markets, while developed markets show a clearer need for sharper price points, pack choices and channel execution. For Mondelez, the first-quarter results suggest that the snacking habit remains intact, even as shoppers become more cautious about how much and where they spend it.
Shares of this Zacks Rank #3 (Hold) company have risen 2.4% in the past three months against the industry’s decline of 14.1%.
The Zacks Consensus Estimate for The Chef's Warehouse’s current financial-year sales and earnings indicates growth of 8.3% and 24.7%, respectively, from the prior-year reported levels. CHEF delivered a trailing four-quarter earnings surprise of 28.9%, on average.
Darling Ingredients Inc. (DAR - Free Report) transforms food and animal byproducts into sustainable ingredients for essential uses. DAR carries a Zacks Rank #2.
The consensus estimate for Darling Ingredients’ current fiscal-year sales and earnings implies growth of 12.3% and 588.2%, respectively, from the year-ago reported figures. DAR delivered a trailing four-quarter earnings surprise of 16.1%, on average.
Tyson Foods, Inc. (TSN - Free Report) operates as a leading protein company, producing chicken, beef, pork and prepared food products. TSN currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Tyson Foods’ current fiscal-year sales calls for growth of 4.5%, while the consensus mark for earnings indicates a 0.5% increase from the year-ago reported figures. TSN delivered a trailing four-quarter earnings surprise of 18.1%, on average.
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Mondelez's Snacking Demand Looks Resilient Despite Spending Pressure
Key Takeaways
Mondelez International, Inc. (MDLZ - Free Report) entered 2026 with global consumers still facing cost-of-living pressure and economic uncertainty. Nonetheless, the company’s first-quarter 2026 update indicates that snacking demand remains broadly resilient, though performance varies by market and category.
Mondelez delivered 3% organic net revenue growth in the first quarter, while volume/mix declined 0.5 percentage points entirely due to package downsizing in select markets. Excluding that impact, the underlying volume/mix was positive, indicating steadier consumer demand than the headline figure suggests.
Emerging Markets offered the strongest evidence of resilience, with organic net revenues up 6.3% and volume/mix rising 0.5 percentage points, led by India and Brazil, along with solid growth in China and Southeast Asia. Developed Markets were mixed but improved, with organic net revenues up 0.8% despite a 1.2-percentage-point volume/mix decline. Europe faced pressure from cocoa-related pricing, revenue growth management and downsizing, while North America grew 0.5%, aided by sequential improvement in U.S. biscuits and strength in convenience, club and online channels.
Category trends also supported the view that snacking remains durable. Biscuits and baked snacks grew 1.7% in the quarter, chocolate rose 5.5%, and gum and candy increased 3.1%. However, chocolate volume/mix declined 2.1%, mainly due to pricing elasticities in parts of Europe, revenue growth management and downsizing actions.
Image Source: Zacks Investment Research
The broader takeaway is that snacking demand has not broken, but it has become more selective. Consumers are still buying into Mondelez’s core categories, especially in emerging markets, while developed markets show a clearer need for sharper price points, pack choices and channel execution. For Mondelez, the first-quarter results suggest that the snacking habit remains intact, even as shoppers become more cautious about how much and where they spend it.
Shares of this Zacks Rank #3 (Hold) company have risen 2.4% in the past three months against the industry’s decline of 14.1%.
Stocks to Consider
The Chef's Warehouse, Inc. (CHEF - Free Report) , a specialty food distributor serving restaurants, hotels and hospitality customers, carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for The Chef's Warehouse’s current financial-year sales and earnings indicates growth of 8.3% and 24.7%, respectively, from the prior-year reported levels. CHEF delivered a trailing four-quarter earnings surprise of 28.9%, on average.
Darling Ingredients Inc. (DAR - Free Report) transforms food and animal byproducts into sustainable ingredients for essential uses. DAR carries a Zacks Rank #2.
The consensus estimate for Darling Ingredients’ current fiscal-year sales and earnings implies growth of 12.3% and 588.2%, respectively, from the year-ago reported figures. DAR delivered a trailing four-quarter earnings surprise of 16.1%, on average.
Tyson Foods, Inc. (TSN - Free Report) operates as a leading protein company, producing chicken, beef, pork and prepared food products. TSN currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Tyson Foods’ current fiscal-year sales calls for growth of 4.5%, while the consensus mark for earnings indicates a 0.5% increase from the year-ago reported figures. TSN delivered a trailing four-quarter earnings surprise of 18.1%, on average.