MONDELEZ INTERNATIONAL INC (NASDAQ:MDLZ) stock rose 1.18% (As on November 2, 11:2:48 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 22. Adjusted Gross Profit increased $351 million at constant currency, while Adjusted Gross Profit margin decreased 100 basis points to 37.4 percent due to higher raw material and transportation costs and unfavorable mix, partially offset by pricing. Adjusted Operating Income increased $118 million at constant currency while Adjusted Operating Income margin decreased 110 basis points to 16.1 percent, with input cost inflation and unfavorable mix, partially offset by pricing and SG&A leverage.

MDLZ in the third quarter of FY 22 has reported the adjusted earnings per share of 74 cents, beating the analysts’ estimates for the adjusted earnings per share of 68 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 8.1 percent to $7.76 billion in the third quarter of FY 22, beating the analysts’ estimates for revenue of $7.48 billion. This is driven by Organic Net Revenue growth of 12.1 percent, and incremental sales from the company’s acquisitions of Clif Bar and Chipita, partially offset by unfavorable currency. Pricing and volume drove Organic Net Revenue growth.

For 2022, the company is updating its 2022 fiscal outlook and now expects 10+ percent Organic Net Revenue growth versus the prior outlook of 8+ percent, which reflects the strength of its year-to-date performance. The company’s expectation for Adjusted EPS growth on a constant currency basis is now 10+ percent versus the prior outlook of mid-to-high single digits. The company’s Free Cash Flow outlook remains at $3+ billion, which includes a Clif Bar one-time compensation expense of $0.3 billion related to the buyout of the non-vested employee stock ownership plan shares. The company estimates currency translation would decrease 2022 net revenue growth by approximately 6.4 percent with a negative $0.26 impact to Adjusted EPS

Meanwhile, the company has announced the next phase of its Cocoa Life program, backed by an additional $600 million through 2030, for a total $1 billion investment since the start of the program, with the goal to increase cocoa volume at scale and work with about 300,000 farmers in the program by 2030.   With this investment, Mondelēz International aims to catalyze ground-breaking sector collaboration to help address systemic environmental and human rights challenges and improve cocoa farmer livelihoods.