PepsiCo. posted its fiscal second quarter earnings that surpassed analysts’ expectations.
The beverage giant’s adjusted earnings for the quarter came in at $1.72, compared to $1.53 expected by analysts polled by Refinitiv.
Revenue increased more than +20% year-over-year to $19.22 billion , also exceeding analysts’ expectation of $17.96 billion.
Net sales climbed +20.5% year-over-year to $19.22 billion, vs. analysts’ expectations of $17.96 billion. Organic revenue (which excludes foreign currency impact, acquisitions and divestitures) rose 12.8%.
PepsiCo.’s North American beverage business generated an organic revenue growth of 21%, the highest of all of Pepsi’s divisions during the quarter. The Quaker Foods North America segment was the only business to report decreasing organic revenue (a -21% fall in the segment’s volume led to a -14% decrease in organic revenue ).
The company narrowed its projection for 2021 organic revenue growth from mid-single digits to 6%.
Pepsi now projects + 11% growth in constant currency earnings per share, higher than its prior forecast of high-single digit growth. The forecast implies core earnings per share of $6.20 for 2021. Analysts had forecast full-year earnings growth of 7.2%.
The company also expressed its plans to expand the duration and scope of its five-year productivity program. It expects to generate at least $1 billion in annual savings through 2026.
The RSI Indicator for PEP moved out of oversold territory on July 02, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 16 similar instances when the indicator left oversold territory. In of the 16 cases the stock moved higher. This puts the odds of a move higher at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of a diversified line of soft drinks and snack foods
Industry BeveragesNonAlcoholic