PepsiCo Q3 Results Rise, Top Estimates; Lifts FY22 Forecast Above Market - Quick Facts

Snack and beverage giant PepsiCo Inc. (PEP) reported Wednesday that its third-quarter net income attributable to the company grew to $2.70 billion from last year's $2.22 billion.

Earnings per share were $1.95, up from last year's $1.60. Core earnings per share were $1.97, compared to $1.79 last year.

Net revenue improved to $21.97 billion from $20.19 billion a year ago. Organic revenue growth was 16%.

On average, analysts polled by Thomson Reuters expected earnings of $1.84 per share for the quarter on revenues of $20.84 billion. Analysts' estimates typically exclude special items.

Looking ahead for fiscal 2022, the company now expects to deliver 12 percent organic revenue growth, higher than previously expected 10 percent growth.

The company now projects 10 percent core constant currency earnings per share growth, up from earlier expected 8 percent.

The revised outlook imply 2022 core earnings per share of approximately $6.73, a 7.5 percent increase compared to 2021 core EPS of $6.26.

The previous forecast was $6.63, a 6 percent growth from last year.

Analysts expect full-year earnings per share of $6.69.

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