PepsiCo (NASDAQ:PEP) earnings for the second quarter of fiscal 2020 has PEP stock bubbling higher on Monday. This comes after reporting adjusted earnings per share (EPS) of $1.32, which is better than Wall Street’s estimate of $1.25 for the quarter. Also, its revenue of $15.95 billion is above analysts’ estimates of $15.38 billion.
Additionally, the company reported GAAP earnings per share of $1.18 for the period.
Here’s a more thorough look at the most recent PepsiCo earnings report.
- Adjusted per-share earnings were down 14.3% from $1.49 during the same time last year.
- Revenue for the quarter comes in 3% below the $16.45 billion from the second quarter of 2019.
- Operating income of $2.32 billion is an 15% decrease year-over-year from $2.73 billion.
- The PepsiCo earnings report also has it bringing in a net income of $1.66 billion.
- That’s a 19.1% drop compared to its net income of $2.04 billion from the same period of the year prior.
Ramon Laguarta, chairman and CEO of PepsiCo, said this about the PEP stock earnings:
“Despite being faced with significant challenges and complexities as a result of the COVID-19 pandemic, our businesses performed relatively well during the quarter, with a notable level of resiliency in our global snacks and foods business. Encouragingly, as restrictions and closures eased and population mobility improved as the quarter progressed, we also saw an improvement in our business performance and channel mix dynamics. However, the environment has remained volatile and much uncertainty remains about the duration and long-term implications of the pandemic.
That said, the company is not including FY2020 guidance due to the effects of the novel coronavirus. However, we know what Wall Street is looking for. Analysts are calling for EPS of $5.34 on revenue of $67.17 billion for the year.
PEP stock was up 2.1% as of Monday afternoon.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.