Mondelēz International’s sales are up 2.1 percent to US$6.1 billion in the last quarter. The company behind power brands such as Oreo, belVita biscuits, Cadbury Dairy Milk and Milka chocolate and Trident gum, has been struggling with sales growth in recent times because of a change in preferences, as US and other consumers seek healthier, natural and fresh alternatives to packaged foods.

However, the latest financial results show that consumer confidence overall in the US is “pretty good,” according to Chief Executive, Dirk Van de Put.

Organic Net Revenue grew 3.5 percent while the Operating income margin was 7.9 percent, down 270 basis points. The Adjusted Operating Income margin was 16.7 percent, up 130 basis points and Diluted EPS was US$0.22, down 31 percent; Adjusted EPS1 was US$0.56, up 15 percent on a constant-currency basis. There is an 18 percent increase in quarterly cash dividend.

“We delivered a strong second quarter, in both developed and emerging markets, building on the momentum created at the beginning of the year,” says Van de Put. “We posted solid top-line results with good performance across all regions. We remain focused on executing against our plans and will share the results of our strategic review with investors in September.”

Net revenues increased by 2.1 percent, including the impact of prior year divestitures. Organic Net Revenue increased 3.5 percent, which included the benefit of lapping the prior year’s malware incident, the adverse effect of Easter shipment timing and the Brazil trucking strike.

Gross profit margin was 41.6 percent, an increase of 290 basis points driven primarily by a favorable impact from currency and commodity hedging activities. Adjusted Gross Profit margin was 40.4 percent, an increase of 60 basis points, driven by productivity savings and improved volume leverage.

Operating income margin was 7.9 percent, down 270 basis points, driven primarily by the impact from pension participation changes in North America, partially offset by a favorable impact from currency and commodity hedging activities. Adjusted Operating Income margin increased 130 basis points to 16.7 percent due to productivity savings and lower selling, general & administrative costs.

Diluted EPS was US$0.22, down 31 percent, driven by the impact from pension participation changes in North America and loss on debt extinguishment & related expenses partially offset by a favorable impact from currency and commodity hedging activities.

Adjusted EPS was US$0.56 and grew 15 percent on a constant-currency basis, driven primarily by operating gains.

The company repurchased approximately US$650 million of its common stock and paid approximately US$300 million in cash dividends. Year to date, the company has returned approximately US$1.8 billion.

The company’s Board of Directors also declared a quarterly cash dividend of US$0.26 per share of Class A common stock, an increase of 18 percent. This dividend is payable on October 12, 2018, to shareholders of record as of September 28, 2018.

The company raised its full-year 2018 outlook for Organic Net Revenue growth to the high end of the previous range of 1 to 2 percent. The company maintained its forecast for Adjusted Operating Income margin of approximately 17 percent and double-digit Adjusted EPS growth on a constant-currency basis.

The company estimates currency translation would decrease net revenue growth by approximately 1 percent with no impact to Adjusted EPS. In addition, the company continues to expect Free Cash Flow of approximately US$2.8 billion.