CHICAGO, August 13, 2026, 12:40 CDT – Mondelez International’s (MDLZ.O) North America sales volume could shift by 1.6 percentage points as it launches a new Oreo flavor popularity vote, putting added focus on consumer preferences amid fluctuating snack demand.
- Oreo’s U.S. fan poll comes after North American volume/mix shifted by 1.6 points during the quarter.
- MDLZ was last at $63.36 on Thursday, down 4.9% from its 52-week peak.
- According to Google Finance, analysts report 13 buy ratings, three hold ratings, and zero sell recommendations.
Mondelēz International Inc. NASDAQ:MDLZ is inviting the public to vote on three Oreo flavors. For investors, the key takeaway is not innovation, but whether U.S. biscuit demand sustains its recent growth in volume.
North America volume/mix increased by 1.2 percentage points in the second quarter, after declining 0.4 points in the first. The 1.6-point turnaround coincided with a pickup in pricing.
| North America organic drivers | Q1 2026 | Q2 2026 | Sequential change |
|---|---|---|---|
| Organic net revenue growth | 0.5% | 3.4% | +2.9 pts |
| Volume/mix | −0.4 pts | +1.2 pts | +1.6 pts |
| Pricing | +0.9 pts | +2.2 pts | +1.3 pts |
The company’s April filing provides the data for the first quarter. The results for the second quarter reflect a clearer balance between pricing and unit volume growth.
The “Twist, Lick, Vote” campaign features Banana Pudding, Deep Fried, and Chicken & Waffles Oreo flavors. Presales open on August 17. U.S. retailers will carry them from August 24, with availability limited.
| Campaign milestone | Date | Investor relevance |
|---|---|---|
| Presale and voting begins | August 17 | Gauge of initial interest and participation |
| National rollout in retail stores | August 24 | Assesses large-scale shelf performance |
| Voting ends | October 12 | Marks the duration of the trial period |
| Winner revealed | October 13 | Determines one flavor returning for 2027 |
Oreo moves upwards of 60 billion cookies every year, with more than 20 billion sold within the United States. This gives the brand a unique testing footprint. Mondelēz did not provide a sales objective, pricing details, or volume projections for the campaign.
Oreo vice president Matt Foley described the launch as a “dynamic, two-way conversation.” The vote holds significance as it could inform a 2027 product decision. However, it does not yet demonstrate repeat purchase activity.
The campaign comes after a strong earnings outperformance. Revenue for the second quarter came in at $9.36 billion, while adjusted earnings stood at $0.73 per share. Both figures surpassed analyst forecasts collected by LSEG.
| Q2 metric | Reported | Consensus | Beat |
|---|---|---|---|
| Net revenue | $9.36 billion | $9.20 billion | 1.7% |
| Adjusted EPS | $0.73 | $0.68 | 7.4% |
| Organic revenue growth | 2.2% | Not stated | — |
| Volume/mix | +0.7 pts | Not stated | — |
Mondelēz now expects organic sales to grow by at least 2% in 2026, up from its previous outlook of zero to 2%. The company maintained its guidance for constant-currency adjusted EPS growth of zero to 5% and anticipates free cash flow will remain close to $3 billion.
Chief Executive Dirk Van de Put pointed to “strong growth and elevated execution” within North America. The Oreo study now offers updated consumer data supporting that statement. Results will continue to reflect distribution, promotion, and retailer choices.
At 1:33 p.m. EDT, shares were at $63.36, gaining 1.9%. The stock was still 4.9% under its 52-week peak of $66.65. Market capitalization stood at approximately $80.9 billion.
| Analyst recommendation | Count | Share of 16 |
|---|---|---|
| Buy | 13 | 81% |
| Hold | 3 | 19% |
| Sell | 0 | 0% |
| 12-month consensus price | $70.56 | 11.4% higher than $63.36 |
Analyst targets are close together, with a low estimate of $66 and a high of $74. UBS recently set a target at $68, JPMorgan at $72, and DBS at $74 following earnings.
The rise on Thursday coincided with the S&P 500 hitting a fresh intraday high. MDLZ carries a beta of 0.39, suggesting general risk sentiment only partially explains the move. The financial impact of the campaign has yet to be determined.
Risks: Limited editions might move sales in time instead of generating new ones. Rising expenses for cocoa, packaging, and freight could outweigh higher volumes. Popular flavors could receive votes but still fail to secure lasting placement on shelves.
The short-term investor assessment is straightforward. Should North American volume remain positive alongside increasing prices, the credibility of a second-quarter turnaround strengthens. Oreo’s endorsement serves as a gauge of engagement, not as a projection.
