PepsiCo earnings top estimates, but 2020 outlook below Wall Street expectations

Earnings

PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts’ expectations.

Shares of the company rose less than 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.45, adjusted, vs. $1.44 expected
  • Revenue: $20.67 billion, vs. $20.27 billion expected

The food and beverage giant reported fiscal fourth-quarter net income of $1.77 billion, or $1.26 per share, down from $6.85 billion, or $4.83 per share, a year earlier.

Excluding items, the Fritos owner earned $1.45 per share, topping the $1.44 per share expected by analysts surveyed by Refinitiv.

Net sales rose 6% to $20.67 billion, beating expectations of $20.27 billion.

In 2020, Pepsi expects 4% organic revenue growth and 7% earnings per share growth after stripping out currency fluctuations.

Products You May Like

Articles You May Like

U.S. Tax Provisions Driving The Fight Against Climate Change
Towns Where Million-Dollar Homes Are Practically The Norm
Here’s how many people will get student loan forgiveness in each state
European businesses are rethinking their plans for a ‘closed’ China
Ford stock suffers worst day since 2011 after cost warning, shedding $7 billion in market value