PepsiCo tops Q3 revenue and earnings estimates; updates outlook
October 2, 2018
PepsiCo Inc. (PEP) beat market estimates on revenue and earnings for the third quarter of 2018. Despite the positive results, the stock is down slightly in premarket trade.
The food and beverages giant reported total revenues of .4 billion, up 1.5% from the same period last year. Organic revenue grew 4.9%.
Net income attributable to PepsiCo grew 16% to .4 billion, and diluted EPS rose 18% to .75 per share versus the prior-year period. Core EPS grew 7% to .59.
PepsiCo updated its guidance for the full year of 2018. The company now expects organic revenue growth to be at least 3%. Core EPS is expected to be .65, up 8% versus last year. Core constant currency EPS growth is touted to be 9%.
PepsiCo saw revenue increases in the Frito-Lay North America and North America Beverages divisions while the Quaker Foods North America business saw a drop of 2%. The Frito-Lay snacks business continues to be the top revenue-generator for the company.
PepsiCo (NYSE: PEP) Q3 2018 Earnings Call