logo
  

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.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity... Chinese electric vehicle manufacturer Xpeng announced the launch of its two latest smart EV models for a number of European markets. Xpeng G9 flagship SUV, and the new P7 sports sedan are now available for order in Denmark, Norway, the Netherlands, and Sweden. Both models are on show at eCar Expo 2023 in Stockholm from February 3 to 5. Herndon, Virginia- based Shop Me Ca is recalling its 10-gram tubes of "Diep Bao Cream" citing the potential to be contaminated with lead, the U.S. Food Drug Administration said. Diep Bao Cream was sold nationwide through Shop Me Ca's Facebook page and certain Vietnamese Moms' Facebook groups, which are not associated with Shop Me Ca.
Follow RTT