Financial News

Full Year Highlights

Net revenues for the full year increased +9.7% driven by Organic Net Revenue¹ growth of +12.3% with underlying Volume/Mix of +2.7%. For the fourth quarter, Net revenues increased +13.5% driven by Organic Net Revenue¹ growth of +15.4% with underlying Volume/Mix of +1.6%
Diluted EPS was $1.96, down 35.5%; Adjusted EPS¹ was $2.95, up +11.9% on a constant currency basis
Cash provided by operating activities was $3.9 billion, a decrease of $0.2 billion versus prior year; Free Cash Flow¹ was $3.0 billion, down $0.2 billion versus prior year
Return of capital to shareholders was $4.0 billion; increased dividend per share by 10%
Announced agreement with Perfetti Van Melle to acquire our developed markets gum business in the U.S., Canada and Europe. Deal expected to close in Q4 2023

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

Contact

Contact