Mondelez International, Inc. MDLZ reported first-quarter 2021 results, with the top and the bottom line increasing year over year. Also, revenues and earnings surpassed the Zacks Consensus Estimate. The company witnessed robust demand in developed markets, while performance in the emerging markets continued to improve during the quarter. Also, management reaffirmed its 2021 view.Q1 PerformanceAdjusted earnings came in at 77 cents per share, up 16.7% year over year. The metric surpassed the Zacks Consensus Estimate of 69 cents per share. On a constant-currency (cc) basis, adjusted earnings increased 10.6% on the back of operating gains and share repurchases. These were somewhat offset by reduced equity method investment earnings and increased taxes.Net revenues increased 7.9% year over year to $7,238 million. The metric also surpassed the Zacks Consensus Estimate of $7,040.8 million. The upside was driven by strong organic net revenue growth of 3.8% as well as increased sales from the Give & Go (concluded in April 2020) and Hu (concluded in January 2021) buyouts. Also, positive impacts from currency translations contributed to growth. Moreover, favorable volumes and pricing drove organic net revenues, which were somewhat offset by unfavorable mix.Mondelez International, Inc. Price, Consensus and EPS Surprise Mondelez International, Inc. price-consensus-eps-surprise-chart | Mondelez International, Inc. Quote Revenues from emerging markets increased 6% to $2,563 million, while the same increased 9.9% on an organic basis. The company noted that it witnessed a major rebound in emerging markets in the first quarter, following disruptions caused by the pandemic. During the quarter, it saw double-digit growth in India, Brazil and China as well as high single-digit improvement in Russia. Further, revenues from developed markets rallied 9% to $4,675 million, while the same inched up 0.4% on an organic basis.Regional-wise, revenues in Asia, Middle East & Africa, Europe and North America increased 16.2%, 10.2% and 4.3% year over year, respectively. However, the same declined 7.9% in Latin America. On an organic basis, revenues increased 7.2%, 10.8% and 3.3%, in Latin America, Asia, Middle East & Africa and Europe, respectively. However, the same declined 2.3% in North America.Adjusted gross profit increased $134 million at cc. Adjusted gross profit margin remained unchanged at 39.6%, reflecting escalated raw material costs and unfavorable product mix. These were offset by increased pricing and manufacturing productivity.The company’s adjusted operating income rose $142 million at cc. Further, adjusted operating income margin expanded 140 basis points to 17.9% on the back of reduced overhead costs. This was somewhat offset by higher advertising and consumer promotions spend. Other FinancialsMondelez ended the quarter with cash and cash equivalents of $2,028 million, long-term debt of $16,961 million and total equity of $27,149 million.The company generated cash from operating activities of $915 million during three months ended Mar 31, 2021. Free cash flow was $699 million during the same time period. Notably, increase in earnings, reduced restructuring as well as solid working capital management contributed to the upside. During the quarter, the company distributed $1.5 billion to shareholders through cash dividends and share buybacks.2021 OutlookThe company expects momentum witnessed in the first quarter to continue through the year. Notably, it is seeing continued demand for snacks amid elevated at-home consumption. That said, pandemic-led uncertainties and volatility are still a matter of concern for the Zacks Rank #4 (Sell) company. We note that management reaffirmed its 2021 outlook. For 2021, Mondelez projects organic net revenues to increase more than 3%. Further, management anticipates adjusted earnings per share (EPS) to grow high single-digits at cc. The earnings outlook takes into account the top-line projections as well as incremental commodity and transportation inflation to some extent.Favorable currency rates are expected to increase net revenue growth by nearly 2 percentage points, while adjusted EPS are likely to have a positive impact of 10 cents by the same. Also, free cash flow in envisioned to be more than $3 billion.Shares of the company have increased 5.9% in the past three months compared with the industry’s growth of 9.9%.Some Solid Staple BetsSanderson Farms, Inc. SAFM, currently sporting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 43.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.Aramark ARMK currently carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 50.8%.United Natural Foods, Inc. UNFI, currently carrying a Zacks Rank #2, has a trailing four-quarter earnings surprise of 13.6%, on average.Zacks Names “Single Best Pick to Double”From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United Natural Foods, Inc. (UNFI): Free Stock Analysis Report Sanderson Farms, Inc. (SAFM): Free Stock Analysis Report Mondelez International, Inc. (MDLZ): Free Stock Analysis Report Aramark (ARMK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research