Mondelez International, Inc. (NASDAQ:MDLZ) Q3 2024 Earnings Call Transcript October 29, 2024 5:00 PM ET

Company Participants

Shep Dunlap - SVP, IR
Dirk Van de Put - Chairman and CEO
Luca Zaramella - CFO

Conference Call Participants

Andrew Lazar - Barclays
Ken Goldman - JPMorgan
John Baumgartner - Mizuho Securities
David Palmer - Evercore ISI
Peter Galbo - Bank of America
Chris Carey - Wells Fargo Securities
Tom Palmer - Citi

Operator

Good day, and welcome to the Mondelez International Third Quarter 2024 Earnings Conference Call. Today's call is scheduled to last about one hour, including remarks by Mondelez Management and the question-and-answer session. [Operator Instructions] I would now like to turn the call over to Mr. Shep Dunlap, Senior Vice President, Investor Relations for Mondelez. Please go ahead, sir.

Shep Dunlap

Good afternoon, and thank you for joining us. With me today are Dirk Van de Put, our Chairman and CEO; and Luca Zaramella, our CFO. Earlier today, we sent out our press release and presentation slides, which are available on our website.

During this call, we will make forward-looking statements about the company's performance. These statements are based on how we see things today. Actual results may differ materially due to risks and uncertainties. Please refer to the cautionary statements and risk factors contained in our 10-K, 10-Q and 8-K filings for more details on our forward-looking statements.

As we discuss our results today, unless noted as reported, we'll be referencing our non-GAAP financial measures, which adjust for certain items included in our GAAP results. In addition, we provide year-over-year growth on a constant-currency basis, unless otherwise noted. You can find the comparable GAAP measures and GAAP to non-GAAP reconciliations within our earnings release and at the back of the slide presentation.

Today, Dirk will provide a business strategy update followed by a review of our financial results and outlook by Luca. We will close with Q&A.

I'll now turn the call over to Dirk.

Dirk Van de Put

Thanks, Shep, and thanks to everyone for joining the call today. I will start on Slide 4. I'm pleased to share that we delivered strong top line growth with positive volume mix. Developed markets grew mid-single-digits, led by solid progress in North America biscuits as well as recovery in Europe following successful implementation of our annual pricing. Emerging markets also grew mid-single-digits, despite continued boycotts of Western brands in certain markets. Strong profit dollar growth enabled us to continue our track record of robust free cash flow generating $2.5 billion year-to-date.