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Q2 Earnings Outperformers: Mondelez (NASDAQ:MDLZ) And The Rest Of The Shelf-Stable Food Stocks

By: StockStory

September 14, 2025 at 23:36 PM EDT

MDLZ Cover Image

Wrapping up Q2 earnings, we look at the numbers and key takeaways for the shelf-stable food stocks, including Mondelez (NASDAQ: MDLZ) and its peers.

As America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options. Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations.

The 20 shelf-stable food stocks we track reported a mixed Q2. As a group, revenues beat analysts’ consensus estimates by 1.3% while next quarter’s revenue guidance was in line.

While some shelf-stable food stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.6% since the latest earnings results.

Mondelez (NASDAQ: MDLZ)

Founded as Nabisco in 1903, Mondelez (NASDAQ: MDLZ) is a packaged snacks powerhouse best known for its Oreo, Cadbury, Toblerone, Ritz, and Trident brands.

Mondelez reported revenues of $8.98 billion, up 7.7% year on year. This print exceeded analysts’ expectations by 1.5%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ adjusted operating income estimates.

“We posted accelerated top-line growth in Q2 2025 underpinned by strong pricing execution in our chocolate business and robust growth across the vast majority of our geographies,” said Dirk Van de Put, Chair and Chief Executive Officer.

The stock is down 11.2% since reporting and currently trades at $61.95.

Is now the time to buy Mondelez? Access our full analysis of the earnings results here, it’s free.

Best Q2: Hershey (NYSE: HSY)

Best known for its milk chocolate bar and Hershey's Kisses, Hershey (NYSE: HSY) is an iconic company known for its chocolate products.

Hershey reported revenues of $2.61 billion, up 26% year on year, outperforming analysts’ expectations by 3.1%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA and organic revenue estimates.

Hershey delivered the fastest revenue growth among its peers. However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $185.50.

Is now the time to buy Hershey? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Conagra (NYSE: CAG)

Founded in 1919 as Nebraska Consolidated Mills in Omaha, Nebraska, Conagra Brands today (NYSE: CAG) boasts a diverse portfolio of packaged foods brands that includes everything from whipped cream to jarred pickles to frozen meals.

Conagra reported revenues of $2.78 billion, down 4.3% year on year, falling short of analysts’ expectations by 1.7%. It was a disappointing quarter as it posted full-year EPS guidance missing analysts’ expectations.

Conagra delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 5.5% since the results and currently trades at $19.24.

Read our full analysis of Conagra’s results here.

Lamb Weston (NYSE: LW)

Best known for its Grown in Idaho brand, Lamb Weston (NYSE: LW) produces and distributes potato products such as frozen french fries and mashed potatoes.

Lamb Weston reported revenues of $1.68 billion, up 4% year on year. This result topped analysts’ expectations by 5.7%. Overall, it was a very strong quarter as it also put up an impressive beat of analysts’ EBITDA estimates and an impressive beat of analysts’ organic revenue estimates.

Lamb Weston pulled off the biggest analyst estimates beat among its peers. The stock is up 14.8% since reporting and currently trades at $56.42.

Read our full, actionable report on Lamb Weston here, it’s free.

J&J Snack Foods (NASDAQ: JJSF)

Best known for its SuperPretzel soft pretzels and ICEE frozen drinks, J&J Snack Foods (NASDAQ: JJSF) produces a range of snacks and beverages and distributes them primarily to supermarket and food service customers.

J&J Snack Foods reported revenues of $454.3 million, up 3.3% year on year. This number beat analysts’ expectations by 2%. It was a very strong quarter as it also logged an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is down 8.9% since reporting and currently trades at $105.

Read our full, actionable report on J&J Snack Foods here, it’s free.

Market Update

The Fed’s interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump’s presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

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