Earnings

PepsiCo earnings top Wall Street estimates, but 2020 outlook below expectations

PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts’ expectations.

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 6% to $20.67 billion, beating expectations of $20.27 billion.

In 2020, Pepsi expects 4% organic revenue growth and 7% earnings per share growth after stripping out currency fluctuations.

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