Soaring cocoa prices put spotlight on Hershey, Mondelez earnings [Globe and Mail, The (Toronto, Canada)]
Mondelez International, Inc. - Class A (MDLZ)
Last mondelez international, inc. - class a earnings: 4/28 04:05 pm
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Source: Globe and Mail, The
plan to tackle the recent surge in cocoa and sugar prices when they report first quarter results this week. These companies have already been grappling with heightened costs in the past few quarters, which they have in part passed on to consumers by raising prices. A recent surge in cocoa prices amid a shrinkage in supplies due to droughts and inconsistent rainfalls as well as crop disease in the world's top cocoa producing regions could spell more trouble for them. In addition, sugar prices have also spiked in recent months. “A lot of investors are waiting to learn about how the consumer is reacting to the current price of chocolate in the market and how that influences the companies' decisions to take more pricing in the future,” said Sean King, an analyst at Columbia Threadneedle Investments, which holds shares of both Hershey and Mondelez. THE CONTEXT Cocoa prices - which have nearly tripled in value this year - currently form about 20% and 10% of Hershey and Mondelez'
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MDLZ
Earnings
- 4/30/24 - Beat
MDLZ
Sec Filings
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- 4/29/24 - Form DEFA14A
- MDLZ's page on the SEC website