Financial News

Third Quarter Highlights

Net revenues increased +8.1% driven by Organic Net Revenue¹ growth of +12.1% with underlying Volume/Mix of +0.7%
Diluted EPS was $0.39, down 56.2%; Adjusted EPS¹ was $0.74, up +15.7% on a constant currency basis
Year-to-date cash provided by operating activities was $2.5 billion, a decrease of $0.2 billion versus prior year; Free Cash Flow¹ was $1.9 billion, down $0.2 billion versus prior year
Return of capital to shareholders was $3.3 billion year-to-date
Raising both Organic Net Revenue growth outlook to 10%+ and Adjusted EPS growth outlook to 10%+
Closed Clif Bar acquisition, helping to create an annual $1+ billion global snack bar business
Closed Ricolino acquisition, doubling the size of our Mexico business
Announced incremental investment into Cocoa Life program to reach a total of $1.0 billion and expand our goal to source all our cocoa volume from Cocoa Life by 2030

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%+

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