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Reporting Second Quarter 2021 Earnings
Positioned for goal of continued and accelerated growth
Tuesday, July 27, 2021
On July 27, 2021, we reported our second quarter 2021 results.
"We delivered another strong quarter of performance across all key metrics, including top-line, profitability and cash generation," said Dirk Van de Put, Chairman and Chief Executive Officer. "We continue to see strength across the vast majority of our geographies, categories and brands as we remain intensely focused on consistent execution and reinvestment to further strengthen our position. We are confident that our strategy, long runway of clear growth drivers and advantaged enablers will continue to drive consistent and attractive growth and value generation over the long term."
Second quarter highlights:
- Net revenues increased +12.4% driven by Organic Net Revenue1 growth of +6.2%, favorable currency and acquisitions
- Diluted EPS was $0.76, up +100.0%; Adjusted EPS1 was $0.66, up +1.6% on a constant-currency basis
- Returned $2.4 billion of capital to shareholders in the first half
- Announced agreement to acquire Chipita, a leading cakes and pastries company in Europe
- Raising Organic Net Revenue growth outlook for full year to 4%+
For more information, see our press release here.
1. Organic Net Revenue, Adjusted Gross Profit (and Adjusted Gross Profit margin), Adjusted Operating Income (and Adjusted Operating Income margin), Adjusted EPS, Free Cash Flow and presentation of amounts in constant currency are non-GAAP financial measures. Please see discussion of non-GAAP financial measures at the end of the press release for more information.