Please select the second broker
PepsiCo (PEP) +1.29% after Q3 beats, raised full-year outlook
PepsiCo (PEP) made gains on the Nasdaq on Tuesday after the fizzy drinks maker posted better-than-expected earnings and revenue for the three months to September.
PepsiCo (PEP) shares eased higher on Tuesday after the food, beverage and snack giant posted Q3 earnings and revenue beats and followed up by raising its sales guidance for the full year.
Pepsi’s earnings rose 7.8% from a year ago to $1.79 per share, which was enough to trump the $1.73 Wall Street consensus.
Group revenues headed in the same direction, climbing 11.6% during the same period to $20.19bn versus the $19.39bn expectations.
While growth was evident across various segments during the three months to 4th September, Pepsi CFO Hugh Johnston admitted that the much publicised global supply chain issues had weighed on top and bottom line.
Pepsi has increased retail prices for its fizzy drinks and snacks in recent months in response to the challenges, and Johnston said that another price is expected early next year.
Investors will be pleased with beverage revenue growth of 27% in Latin America and 7% in North America during the last 12 months and a 6% uptick in sales for the Frito Lay brand.
Following a solid quarter, Pepsi now sees organic revenue jumping 8% for the year, which is slightly higher than the previous 6% outlook.
Full-year earnings are also expected to come in at around $6.20 per share, with this figure being roughly the same as prior forecasts.
CEO Ramon Laguarta said: “Our strong year-to-date results demonstrate that the investments we have made towards becoming a Faster, Stronger, and Better company are working.”
Laguarta noted that Pepsi has been able to navigate a particularly “dynamic and volatile” environment beset by supply chain and cost challenges.
PEP shares traded higher after the report was released on Tuesday, rising 1.25% to $152.07 on the Nasdaq by late morning.
Scam Brokers, Broker Complaints
Are you aware of a scam broker or want to make a broker complaint?
We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.
We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.
We use the information you give us to decide if we want to continue to promote a broker on our site.
Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.