Mondelez International, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net revenues of $6,966 million against $6,770 million a year ago. Operating income was $844 million against $507 million a year ago. Earnings before income taxes were $724 million against loss of $68 million a year ago. Net earnings attributable to the company were $802 million or $0.53 per diluted share against $93 million or $0.06 per basic and diluted share a year ago. Adjusted net revenues were $6,960 million against $6,578 million a year ago. Adjusted operating income was $1,108 million against $925 million a year ago. Adjusted earnings before income taxes were $988 million against $777 million a year ago. Adjusted net earnings attributable to the company were $862 million or $0.57 per diluted share against $688 million or $0.44 per diluted share million a year ago.

For the year, the company reported net revenues of $25,896 million against $25,923 million a year ago. Operating income was $3,506 million against $2,569 million a year ago. Earnings before income taxes were $3,124 million against $1,454 million a year ago. Net earnings attributable to the company were $2,922 million or $1.91 per diluted share against $1,659 million or $1.05 per diluted share a year ago. Net cash provided by operating activities was $2,593 million against $2,838 million a year ago. Capital expenditures were $1,014 million against $1,224 million a year ago. Adjusted net revenues were $25,626 million against $25,270 million a year ago. Adjusted operating income was $4,178 million against $3,802 million a year ago. Adjusted earnings before income taxes were $3,738 million against $3,211 million a year ago. Adjusted net earnings attributable to the company were $3,270 million or $2.14 per diluted share against $2,922 million or $1.86 per diluted share million a year ago.

For the year 2018, the company expects organic net revenue to grow between 1% to 2%. The company does expect that 2018 will be another year of double-digit EPS growth at constant currency, which sets apart from others in the industry. The outlook for free cash flow is approximately $2.8 billion. Adjusted effective tax rate is to be in the low to mid-20s and likely very close to 2017 rate. Adjusted OI margin is approximately 17% in 2018. Improving cash flow performance in 2018 and beyond as CapEx spending is now below 4% of revenue. The company estimates currency translation would increase net revenue growth by approximately 4% and adjusted EPS by approximately $0.12.