The multinational food, snack, and beverage corporation surprised markets with its quarterly earnings
PepsiCo Q3 2021 adjusted EPS came in at $1.79 compared with $1.73 expected. Net sales rose 11.6% to $20.19 billion, topping expectations of $19.39 billion, despite increased costs and snarls in the supply chain. The company’s North American beverage business revealed organic revenue growth of 7% in the quarter.
According to PepsiCo Frito-Lay subsidiary figures, consumers maintained many of their pandemic snacking habits, leading to 5% organic revenue. Salty and savory snacks categories were favorite options.
PepsiCo revealed that it expects an 8% increase in organic revenue for the year, up from a previous forecast of 6% growth. The figures are below analysts’ expectations of a revenue increase of 9.5% and an earnings growth of 13%.
At the moment of writing, PepsiCo stock price is up 0.53%.
Sources: cnbc.com, finance.yahoo.com
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