On Friday, Shares of Mondelez International Inc (NASDAQ:MDLZ), lost -0.26% to $46.16.
Mondelz International, stated its third quarter 2015 results, reflecting continued strong Adjusted Operating Income margin expansion and solid Organic Net Revenue growth. Adjusted EPS was flat as compared to the preceding year on a constant-currency basis due to dilution related to the company’s created coffee joint venture.
We delivered strong margin expansion in the third quarter by progressing our transformation agenda in a volatile and challenging macroeconomic environment, said Irene Rosenfeld, Chairman and CEO. Were ongoing to aggressively reduce costs to expand margins and provide the fuel for incremental investments behind our Power Brands and route-to-market capabilities to drive sustainable revenue growth and improve market shares. As a result, we remain confident in our ability to deliver our 2015 outlook and our 2016 Adjusted Operating Income margin target of 15 to 16 percent, while ongoing to return noteworthy capital to our shareholders.
On a stated basis, net revenues were $6.8 billion, down 17.8 percent, counting a negative 13.6 percentage point impact from currency and a negative 9.3 percentage points from the coffee business transactions. Operating income was $7.8 billion, up 815 percent, counting a $7.1 billion pre-tax gain from the coffee transaction. Diluted EPS was $4.46, up $3.93.
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products.
Shares of Occidental Petroleum Corporation (NYSE:OXY), inclined 0.55% to $74.54, during its last trading session.
Occidental Petroleum Corporation, declared core income for the third quarter of 2015 of $24 million or $0.03 per diluted share. Stated income was a loss of $3.42 per diluted share for the quarter, counting $2.6 billion after tax charges, which reflect the sharp decline in the oil and gas futures price curves, in addition to projects that administration determined it would cease to pursue. Operating cash flow for the quarter was $1.0 billion, with total cash on the balance sheet at quarter-end of $4.3 billion.
In announcing the results, Stephen I. Chazen, President and Chief Executive Officer, said, “Our third quarter daily production raised to 689,000 BOE from last year’s 595,000 BOE, an improvement of 16 percent. Permian Resources and the start up of Al Hosn drove nearly all of the 94,000 BOE per day year-over-year growth. We have made a planned decision to exit the Williston Basin and will continue to evaluate and minimize our involvement in non-core operations in the Middle East and North Africa. This will result in improved operating cash flow, lower future capital commitments, lower G&A costs and better overall financial returns for our remaining asset base.
Occidental Petroleum Corporation engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates in three segments: Oil and Gas; Chemical; and Midstream, Marketing and Other.
Finally, Shares of Southern Co (NYSE:SO), ended its last trade with 0.33% gain, and closed at $45.10.
Southern LINC Wireless, a Southern Company, declared that President and CEO Tami Barron has been re-elected to the boards of directors of two wireless industry organizations: CTIA–The Wireless Association, and the Competitive Carriers Association (CCA).
“I am happy to be able to continue to serve with CTIA and CCA on their missions to advocate on behalf of the wireless industry,” said Barron. “I look forward to providing a regional carrier’s perspective to these important organizations.”
Barron will continue on CTIA’s 38-member board of directors through 2016. CTIA declared its election results last month at the Super Mobility event in Las Vegas. Based in Washington, D.C., CTIA is a not-for-profit, international organization representing the wireless communications industry.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.