CLAIM #39913 · Mondelez International Inc (MDLZ) · 2025Q2 earnings call · Jul 29, 2025

“I don't believe necessarily the stock price is going to go down much, I hope, from here. But in case it does, we are going to be pragmatic and buy back more stock.”

Luca Zaramella · CFO

How to check this claim

Look at: Share repurchases (dollar amount or share count bought back), reported quarterly/annually

It came true if: Repurchase activity increases (higher $ spent on buybacks) in quarters where stock price declines from the July 2025 level, compared to prior run-rate

Where: Company-disclosed share repurchase data (10-Q/10-K cash flow statement or buyback commentary on earnings calls)

Knowable after: 2026-07-29

In context

“that we had functionally around the world. So looking at the debt that is impacted by forex and now looking at the overall balance sheet and the gains, the material gains we are making on the net investment hedges is a little bit misleading. But to your point about share, I stick to what I said in the Q1 call. We have been buying back quite a bit of shares at a very compelling price, which was below $60 per share on average. We are going to be very pragmatic should the stock for any reasons -- and quite frankly, I have to say when I fast-forward and I see cocoa coming down, when I see Mondelez in a context where many companies are challenged printing a number on top line, which is quite good. As I look at the plans around the world, I believe we are setting ourselves up for a decent 2026. I don't believe necessarily the stock price is going to go down much, I hope, from here. But in case it does, we are going to be pragmatic and buy back more stock. And I think in hindsight, as cocoa normalizes and we look at our normalized earnings, this will be one of the best deployment of capital decisions we have made. Alexia Howard: Great. And as a follow-up, the weakness in North American volumes, I know you've attributed it to weakness -- value-seeking behavior on the part of consumers. How are you thinking about the GLP-1 impact on these indulgent snacking categories? Particularly as we think about pill versions coming out next year, is there a danger that North America sees continued pressure? Obviously, your other regions are doing fine, which is great, but I'm just thinking about how you prepare for that eventuality next year. Dirk Van de Put: Yes. Well, I mean, from our perspective, there is currently no real impact on our volumes coming”

Verify independently

SEC filings for MDLZ ↗ · Quote is verbatim from the 2025Q2 earnings call.