Pepsico (PEP) reported 3rd Quarter September 2020 earnings of $1.66 per share on revenue of $18.1 billion. The consensus earnings estimate was $1.48 per share on revenue of $17.3 billion. The Earnings Whisper number was $1.52 per share. Revenue grew 5.3% on a year-over-year basis.
The company said it expects 2020 earnings of approximately $5.50 per share. The current consensus earnings estimate is $5.33 per share for the year ending December 31, 2020.
PepsiCo Inc is a food, snack and beverage company. It manufactures, markets,
distributes and sells convenient and enjoyable beverages, foods and snacks,
serving customers and consumers in more than 200 countries and territories.
PepsiCo Reports Third-Quarter 2020 Results; Provides Updated 2020 Financial Targets
PURCHASE, N.Y. - October 1, 2020 - PepsiCo, Inc. (NASDAQ:PEP) today reported results for the third quarter 2020.
"Despite the ongoing volatility and complexity in our operating environment, I believe our third quarter performance reinforces the diversification of our portfolio, the resilience and agility of our teams across every continent and demonstrates our ability to support our customers and communities during their time of need while also delivering good results for our shareholders," said Chairman and CEO Ramon Laguarta.
"Our reported revenue increased 5.3 percent, while our reported earnings per share increased 10 percent. Organic revenue increased 4.2 per cent and core constant currency earnings per share increased 9 percent. These results reflect the continued strength of our global snacks and food business and a significant improvement in our global beverage business.
As the environment continues to evolve, we remain committed to executing on our strategy to become Faster, Stronger and Better and win in the marketplace. Given our year-to-date business performance and based on what we can reasonably predict at this time, we are providing an update to our full-year 2020 guidance and now expect to deliver approximately 4 percent organic revenue growth and approximately $5.5 in core earnings per share.
For the full press release, please go here.