In its third-quarter earnings statement, Mondelēz International reported pricing-driven growth in North America and an agreement to acquire Undercover Snacks, a quinoa crisp line with chocolate and frosted varieties.

Chairman and CEO Dirk Van de Put described Undercover Snacks as an expansion in “permissible indulgence,” citing its simple ingredients and opportunities to reach more households and expand distribution.

Growth in North America, losses in Europe

North America revenue rose 1.1% to $2.85 billion in the third quarter. Organic revenue increased 1.6%, entirely from pricing, while volume/mix was flat. Through September, regional organic revenue grew 1.8%, with pricing contributing 1.6 percentage points and volume/mix adding 0.2 points.

Mondelēz’s third-quarter revenue declined 3.3% in Europe, while Latin America posted a 12% increase. Pricing drove most of Latin America’s 6.9% organic revenue growth, contributing 6.1 percentage points, while volume/mix added 0.8 points. In Europe, organic revenue fell 2.1%, as lower pricing outweighed a positive volume/mix contribution.

Globally, Mondelēz revenue increased 2.3% to $9.97 billion. Organic revenue grew 2.1%, including 1.8 percentage points from volume/mix and 0.3 points from pricing.

Adjusted operating income increased 17% at constant currency. Lower raw material costs, manufacturing productivity, pricing and favorable volume/mix supported the improvement, partly offset by higher overhead, advertising and consumer promotion costs.

Mondelēz reaffirmed its 2026 outlook for organic revenue growth of at least 2% and adjusted earnings per share growth ranging from flat to 5% at constant currency.