The PepsiCo earnings report for the fourth quarter of 2018 has PEP stock up today despite a weak outlook.
PepsiCo (NASDAQ:PEP) reported earnings per share of $1.49 for the fourth quarter of the year. This is an increase over the company’s earnings per share of $1.31 for the fourth quarter of 2017. It was also good news for PEP stock by matching Wall Street’s earnings per share estimate for the period.
Net income reported in the PepsiCo earnings release for the fourth quarter of 2018 comes in at $6.87 billion. This is better than the company’s net loss of $695 million reported in the fourth quarter of the previous year.
Operating income in the PepsiCo earnings report for the fourth quarter of the year was $2.43 billion. The food and drink company’s operating income from the same period of the year prior was $2.57 billion.
PepsiCo earnings for the fourth quarter of 2018 also include revenue of $19.52 billion. This is down slightly from the company’s revenue of $19.53 billion reported during the same time last year. It also comes in just below analysts’ revenue estimate of $19.53 billion for the quarter, but wasn’t keeping EPE stock down today.
The most recent PepsiCo earnings report also includes its outlook for the full year of 2019. It is expecting revenue growth of 4% and an earnings per share decrease of 1% in 2019. 2019 earnings per share came in at $5.66 on revenue of $64.66 billion. Wall Street is looking for earnings per share and revenue of $5.87 and $66.58 billion in 2019.
A dividend increase for PepsiCo shareholders is likely behind the PEP stock increase today. The company’s annual dividend is increasing from $3.71 per share to $3.82 per share.
PEP stock was up 3% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.