Packaged snacks company Mondelez (NASDAQ:MDLZ) will be announcing earnings results tomorrow after market close. Here's what investors should know.

Mondelez met analysts' revenue expectations last quarter, reporting revenues of $9.31 billion, up 7.1% year on year. It was a mixed quarter for the company, with EPS and gross margin exceeding expectations. Its organic revenue growth was in line with estimates, but looking under the hood, we can see its sales volumes missed (0.4% year-on-year decline vs estimates of 1.8% growth) while its average price per sale beat (9.8% year-on-year growth vs estimates of 8.2% growth).

Is Mondelez a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Mondelez's revenue to be flat year on year at $9.19 billion, slowing from the 18.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.89 per share.

The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing three upward and six downward revisions over the last thirty days. Mondelez has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 4.4% on average.

Looking at Mondelez's peers in the shelf-stable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. McCormick delivered year-on-year revenue growth of 2.4%, beating analysts' expectations by 3.3%, and Simply Good Foods reported revenues up 5.3%, falling short of Wall Street's consensus estimates by 1.3%. McCormick traded down 2.7% following the results while Simply Good Foods traded up 3.1%.

Read our full analysis of McCormick's results here and Simply Good Foods's results here.

Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, and while some of the shelf-stable food stocks have fared somewhat better, they have not been spared, with share price declining 4.3% over the last month. Mondelez is up 1.8% during the same time and is heading into earnings with an average analyst price target of $81.9 (compared to share price of $71.02).

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.