PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts’ expectations after strong performances by its North American beverage and snack divisions.
Shares of the company rose less than 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.45, adjusted, vs. $1.44 expected
- Revenue: $20.67 billion, vs. $20.27 billion expected
The food and beverage giant reported fiscal fourth-quarter net income of $1.77 billion, or $1.26 per share, down from $6.85 billion, or $4.83 per share, a year earlier.
Excluding items, the Fritos owner earned $1.45 per share, topping the $1.44 per share expected by analysts surveyed by Refinitiv.
Net sales rose nearly 6% to $20.64 billion, beating expectations of $20.27 billion. Organic revenue rose 4.3% during the quarter.
Frito-Lay and Pepsi’s North American beverage unit both reported organic sales growth of 3%. Frito-Lay’s volumes increased by 2% in the quarter.
In 2020, Pepsi expects 4% organic revenue growth and 7% earnings per share growth after stripping out currency fluctuations. The company is forecasting adjusted earnings per share of $5.88 for the year.
Correction: PepsiCo reported revenue of $20.64 billion. An earlier version of this story misstated the number.