PepsiCo has upgraded its full-year forecast after its latest quarterly earnings and revenue beat analyst’s expectations, according to a report by PepsiCo. 

  • PepsiCo’s earnings per share stood at around $1.79 compared to $1.73 that had been initially estimated by analysts surveyed by Refinitv data.
  • The company’s revenue in the third quarter totaled $20.19 billion compared to the expected $19.39 billion.
  • Pepsi posted a 3Q net income of $2.22 billion or $1.60 per share, down from $2.29 billion or $1.65 per share, a year earlier. Excluding items, the food and beverage issued earned $1.79 per share, overcoming the analyst’s estimates of $1.73. 
  • Net sales at PepsiCo jumped 11.6% to $20.19 billion, beating expectations of $19.39 billion.
  • For the fiscal year 2021, the company now projects to deliver nearly 8% organic revenue growth, at nearly 11% core constant currency earnings per share growth, and nearly 12% core EPS growth.

The company continues to expect a one percentage-point foreign exchange translation tailwind to benefit recorded net revenue and core EPS growth depending on current market consensus rates. PEP up +0.19% Pre-market trading