PepsiCo (PEP) Tops Q3 Earnings & Revenue Estimates, Stock Up
Zacks Investment Research | Oct 02, 2019 09:37PM ET
PepsiCo, Inc. (NASDAQ:PEP) reported solid third-quarter 2019 results, wherein earnings and sales surpassed estimates. With this, the company reported sales beat in nine of the last 11 quarters. Further, it recorded positive earnings surprise in 14 of the last 15 quarters. However, the company’s core earnings per share declined year over year, owing to increased SG&A expenses, which also hurt operating margin.
PepsiCo’s shares rallied 3.3% in the pre-market session on Oct 3, after it reported strong third-quarter results. Moreover, shares of this Zacks Rank #3 (Hold) company have gained 21.2% year to date, outperforming the industry ’s 13.5% growth.
Quarter in Detail
PepsiCo’s third-quarter core earnings per share (EPS) of $1.56 beat the Zacks Consensus Estimate of $1.50. However, core EPS declined 1.9% year over year. In constant currency, core earnings were down 1% from the year-ago period.
The company’s reported earnings of $1.49 per share declined nearly 15% year over year. Foreign exchange translation unfavorably impacted reported EPS by 1 percentage points.
Pepsico, Inc. Price, Consensus and EPS Surprise
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