PepsiCo (PEP) earnings Q4 2019 beat estimates

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. 

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