Pepsico Q2 Profit Down, Adj. EPS Tops View; Lifts FY22 Organic Revenue View

Snack and beverage giant PepsiCo Inc. (PEP) reported Tuesday that its second-quarter net income attributable to the company declined to $1.43 billion from last year's $2.36 billion.

Earnings per share were $1.03, down from prior year's $1.70.

Core net income was $2.58 billion or $1.86 per share, compared to prior year's $2.39 billion or $1.72 per share.

On average, 18 analysts polled by Thomson Reuters expected earnings of $1.74 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue grew 5.2 percent to $20.23 billion from last year's $19.22 billion. Organic revenue growth was 13 percent. Analysts estimated revenues of $19.51 billion for the quarter.

Looking ahead, the company now expects to deliver 10 percent organic revenue growth for fiscal 2022, compared to previous guidance of 8 percent.

Further, the company continues to expect an 8 percent increase in core constant currency earnings per share.

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