PepsiCo: forecasts raised, but costs weigh
(CercleFinance.com) - PepsiCo reported higher-than-expected quarterly profit on Tuesday and raised its 2021 growth forecast, despite what it called a "volatile" market environment.
The soft drinks giant, which also owns Quakers cereal and Lay's crisps, said it expected organic growth to reach around 8% this year, up from a previous forecast of 6%.
This would result in FY EPS of 6.20 dollars per share, just below the current EPS consensus of 6.24 dollars this year.
Q3 net income came in at 2.2 billion dollars, or 1.60 dollar per share, below the 2.3 billion dollars (1.65 dollar per share) a year ago.
Although excluding exceptional items, EPS was 1.79 dollar, above the consensus of 1.73 dollar.
Meanwhile, revenue increased by 11% to 20.2 billion dollars (organic growth of 9%).
The company still said that it was cautious in a volatile environment - concerning both supplies and costs.
The share was up over 1% in pre-market trading today.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The soft drinks giant, which also owns Quakers cereal and Lay's crisps, said it expected organic growth to reach around 8% this year, up from a previous forecast of 6%.
This would result in FY EPS of 6.20 dollars per share, just below the current EPS consensus of 6.24 dollars this year.
Q3 net income came in at 2.2 billion dollars, or 1.60 dollar per share, below the 2.3 billion dollars (1.65 dollar per share) a year ago.
Although excluding exceptional items, EPS was 1.79 dollar, above the consensus of 1.73 dollar.
Meanwhile, revenue increased by 11% to 20.2 billion dollars (organic growth of 9%).
The company still said that it was cautious in a volatile environment - concerning both supplies and costs.
The share was up over 1% in pre-market trading today.
Copyright (c) 2021 CercleFinance.com. All rights reserved.