Categories AlphaGraphs, Earnings, Retail

PepsiCo edges past market estimates in Q2

Beverage giant PepsiCo (NASDAQ: PEP) on Tuesday reported second-quarter earnings and revenues that topped earnings estimates. Revenues grew 2.2% to $16.45 billion, edging past analysts’ estimate for $16.42 billion. On an organic basis, revenue grew 4.5%.

The snack business continued to outperform in Q2, with organic revenue growth of 5%. The segment was also returned 4.5% higher adjusted constant currency profits. Meanwhile, the Quaker Foods North America, despite seeing a 3% organic revenue growth, saw its profits plunge double-digits.  

PepsiCo Q2 2019 earnings infographic

Core earnings fell 4.3% year-over-year to $1.54 per share, beating the street estimate of $1.50 per share.

PEP shares were up 0.5% during pre-market trading on Tuesday. The stock has gained 22% so far this year.

Ramon Laguarta, who took charge as PepsiCo CEO in October last year, expressed confidence of meeting the full-year targets set by the beverage company.

READ: Why is it the right time to invest in beverage stocks?

PepsiCo reiterated its guidance of full-year organic revenue growth of 4%. For this period, core EPS is projected to fall 3% to $5.50 per share.

PepsiCo continues to boost its strong product portfolio through innovation and strategic partnerships. The company recently teamed up with Lavazza to launch iced coffee in the UK. PepsiCo’s diversification efforts through various acquisitions and partnerships are likely to pay off in driving growth going forward.

Pepsi’s primary competitor The Coca Cola Company (NYSE: KO) is slated to report financial results two weeks later.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Also Read:  Verizon (VZ) Q2 revenue down 5%; earnings drop but beat estimates

Most Popular

3D Systems Corp. (DDD) Q2 2020 Earnings Call Transcript

3D Systems Corp. (NYSE: DDD) Q2 2020 earnings call dated Aug. 05, 2020 Corporate Participants: Jessica Stansell -- Investor Relations Jeffrey A. Graves -- Chief Executive Officer And President Wayne Pensky -- Interim Chief Financial Officer Analysts:

Yelp (YELP): Revenue recovery depends significantly on COVID-19 environment

Shares of Yelp (NYSE: YELP) were down over 15% on Friday, a day after the company reported a decline in revenue along with a net loss for the second quarter

US economy adds 1.8 million jobs in July; unemployment rate drops to 10.2%

The US economy added 1.8 million jobs in July, marking the third consecutive month of employment growth as the country recovers from the coronavirus pandemic that has caused widespread disruption.

One thought on “PepsiCo edges past market estimates in Q2

Comments are closed.

Tags

Top