PepsiCo (NASDAQ:PEP) earnings for the beverage and snack company’s third quarter of 2019 has PEP stock up on Thursday. This is thanks to the company’s earnings per share of $1.56, which is above Wall Street’s estimate of $1.50 for the quarter. Revenue of $17.19 billion was also a boon to PEP stock by beating out analysts’ estimate of $16.93 billion.
Now onto some of the finer details from the most recent PepsiCo earnings report.
- Per-share earnings for the quarter were down 1.89% YoY from $1.59.
- Revenue from PEP was up 4.26% from the $16.49 billion reported during same time last year.
- Operating income of $2.86 billion for the period was up almost 1% from $2.84 billion in the third quarter of 2018.
- PepsiCo earning have net income dropping 16% from $2.50 billion to $2.10 billion during the third quarter.
Ramon Laguarta, Chairman and CEO of PEP, said of the PepsiCO earnings report.
“We are making good progress against our strategic priorities and our businesses are performing well as we continue to make the necessary investments in our capabilities, brands, manufacturing and go-to-market capacity to propel our future growth.”
The PepsiCo earnings report also includes an update on its outlook for the full year of 2019. This includes it expecting per-share earnings for the period to come in at $5.50. This would be a 3% drop from its EPS of $5.66 for 2018. Wall Street is looking for PEP to report earnings per share of $5.52 for the year.
PEP stock was up 3.85% as of Thursday afternoon and is also up 22.57% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
