CORRECTED-BUZZ-Mondelez forecasts bigger-than-expected annual profit drop on cocoa prices

Corrects headline to say company forecasts bigger-than-expected annual profit drop and not annual loss

Shares of Cadbury parent Mondelez International MDLZ.0 down 5.1% at $53.25 in aftermarket trade

Co forecast a bigger-than-estimated drop in its annual profit on pressures from surging cocoa prices caused by a fall in global cocoa supply

Sees 2025 profit to fall 10% on an adjusted basis, compared with estimates of a decline of 6.7%, per data compiled by LSEG

Says forecast is not inclusive of impacts of new import tariffs

For Q4, co reports net revenue of $9.60 billion vs estimates of $9.64 billion, and adjusted EPS of 65 cents, below estimates of 66 cents

MDLZ fell ~18% in 2024