When PepsiCo Inc. (NASDAQ: PEP) released its third-quarter financial results before the markets opened on Thursday, the firm said that it had $1.56 in earnings per share (EPS) and $17.19 billion in revenue. That compares with consensus estimates of $1.50 in EPS and $16.93 billion in revenue, as well as the $1.59 per share and $16.48 billion posted in the same period of last year.
During the most recent quarter, organic net revenue growth totaled 4.3% year over year, with foreign exchange having a negative 1% impact. Core constant EPS declined by about 1% year over year as well.
In terms of its segments, the firm reported as follows:
- Frito-Lay North America revenues increased 5.5% year over year to $4.105 billion.
- Quaker Foods North America revenues increased by 1.6% to $576 million.
- PepsiCo Beverages North America revenues increased 3.4% to $5.64 billion.
- Latin America revenues increased by 1.9% to $1.90 billion.
- Europe Sub-Saharan Africa revenues increased 5.9% to $3.35 billion.
- Asia, Middle East and North Africa revenues increased 4.6% to $1.61 billion.
Looking ahead to the 2019 full year, the company expects to see organic revenue growth of 4% and a decline in core constant currency EPS of roughly 1% (core EPS of $5.50). Consensus estimates call for $5.52 in EPS and $66.49 billion in revenue.
Ramon Laguarta, PepsiCo’s board chair and chief executive, commented:
We are making good progress against our strategic priorities and our businesses are performing well as we continue to make the necessary investments in our capabilities, brands, manufacturing and go-to-market capacity to propel our future growth. Given our performance year-to-date, we now expect to meet or exceed our full-year organic revenue growth target of 4%.
Shares of PepsiCo traded up 2% early Thursday at $136.81, in a 52-week range of $104.53 to $139.18. The consensus price target is $135.15.
24/7 Wall St.Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
