Financial News

Second Quarter Highlights

Net revenues increased +9.5% driven by Organic Net Revenue¹ growth of +13.1% with underlying Volume/Mix of +5.1%
Diluted EPS was $0.54, down 28.9%; Adjusted EPS¹ was $0.67, up +9.1% on a constant-currency basis
Year-to-date cash provided by operating activities was $2.0 billion, an increase of +$0.2 billion versus prior year; Free Cash Flow¹ was $1.6 billion, +$0.2 billion
Return of capital to shareholders was $2.5 billion in the first half of the year
Announced agreement to acquire Clif Bar, a leader in high growth, well-being snack bars, creating a $1+ billion global snack bar business
Announcing +10% increase to quarterly dividend
Raising Organic Net Revenue growth outlook for full year to 8%+

Confirms progress in improving community livelihoods by scaling signature sourcing programs, reducing use of virgin plastics in packaging and reducing climate impact in owned operations
Advances against diversity, equity and inclusion (DE&I) goals: exceeding women in executive leadership goal by >2X and improving U.S. Black management representation by 60 percent year-over-year
Continues to help create long-term value for business through ongoing investments in ESG and supply chain resiliency

First Quarter Highlights

Net revenues increased +7.3% driven by Organic Net Revenue¹ growth of +8.6%
Diluted EPS was $0.61, down -10.3%; Adjusted EPS¹ was $0.84, up +13.9% on a constant-currency basis
Cash provided by operating activities was $1.1 billion, an increase of +$0.2 billion versus prior year; Free Cash Flow¹ was $1.0 billion, +$0.3 billion
Return of capital to shareholders was $1.2 billion
Announced agreement to acquire Ricolino, Mexico's leading confectionery company with iconic brands and strong distribution capabilities, doubling the size of our Mexico business
Appointed Mariano Lozano to the role of EVP and President, Latin America

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