PepsiCo (PEP) Q3 2021 earnings beat
Pepsi soft beverages are on display at a San Francisco convenience store, California.
Justin Sullivan | Getty Images
PepsiCo on Tuesday raised its full-year forecast after its quarterly earnings and revenue topped analysts’ expectations, despite higher costs and snarls in the supply chain.
The company’s shares fell by less than 1 percent in premarket trades.
Based on an analysis of Wall Street analysts, here’s the report from the company.
- Earnings per share: $1.79 adjusted vs. $1.73 expected
- Revenues: 20.19 Billion vs. expected $19.39 Billion
Pepsi’s fiscal third quarter net income was $2.22 Billion, or $1.60 per Share, down from $1.65 billion (1.65 per Share) a year ago.
The earnings of the beverage and food giant, which excludes items, were $1.79/share, exceeding the expected $1.73/share by Refinitiv analyst.
Net sales It rose 11.6%, to $20.19 Billion. That’s more than expected at $19.39 Billion. Organic revenue of the company, which excludes acquisitions and divestitures effects, increased by 9% in quarter.
Pepsi stated that it expected its organic revenue growth to rise by 8% in the current year, up from its previous forecast of 6%. Pepsi reiterated its 11% core constant currency earnings per shares forecast.