PepsiCo reported fourth quarter earnings that surpassed expectations. However, its full-year guidance on earnings-per-share fell shy of analysts’ projections.
The beverage behemoth’s adjusted earnings for the three months ending in December came in at $1.45 per share, compared to analysts’ estimate of $1.44. However, the figure is -4 cents lower from the same period last year.
Total revenues declined -9.75% year-over-year to $20.64 billion, but managed to beat analyst's expectation of $20.27 billion .
For the full-year 2020, Pepsi expects +4% organic revenue growth, and predicts +7% earnings per share growth (excluding currency fluctuations).
The company has projected adjusted earnings per share of $5.88 for the year, which is below analysts’ forecast of $5.95. It mentioned foreign currency as an expected headwind for 2020.