Mondelez drops after cutting full-year earnings forecast

Mondelez, the company behind Oreo, Ritz, and Cadbury, is down about 5% in premarket trading after slashing its annual profit guidance, citing softer European and US demand and soaring cocoa prices.

Though Q3 net sales rose 5.9% year over year to $9.74 billion, above Wall Street’s $9.71 billion estimate, and adjusted earnings per share came in at $0.73, topping expectations of $0.71, the company is now forecasting that organic sales for 2025 will rise 4% or more, down from ~5%. It also expects earnings will fall about 15%, steeper than the 10% it had forecast previously.

If today’s slump holds, Mondelez will have shed almost 5% in the year to date and nearly 18% over the past 12 months.

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