PepsiCo (NASDAQ:PEP) earnings for the third quarter of fiscal year 2020 has PEP stock ticking lower on Thursday. This comes after reporting adjusted earnings per share (EPS) of $1.66, which is better than Wall Street’s estimate of $1.49 for the quarter. Also, its revenue of $18.09 billion is above analysts’ estimates of $17.23 billion.
Additionally, the company reported GAAP EPS of $1.65 for the period.
Here’s a more thorough look at the most recent PepsiCo earnings report.
- Adjusted per-share earnings were up 6.4% from $1.50 during the same time last year.
- Revenue for the quarter comes in 5.3% above the $17.19 billion from the third quarter of 2019.
- Operating income of $3.01 billion is a 5.2% increase year-over-year from $2.86 billion.
- The PepsiCo earnings report also has it bringing in a net income of $2.29 billion.
- That’s a 9.1% rise compared to its net income of $2.1 billion from the same period of the year prior.
“Despite the ongoing volatility and complexity in our operating environment, I believe our third quarter performance reinforces the diversification of our portfolio, the resilience and agility of our teams across every continent and demonstrates our ability to support our customers and communities during their time of need while also delivering good results for our shareholders.”
Additionally, Laguarta also mention that the company is updating its FY2020 guidance. This includes Pepsico now expecting “to deliver approximately 4 percent organic revenue growth and approximately $5.50 in core earnings per share.” That said, Wall Street is looking for EPS of $5.36 on revenue of $68 billion.
PEP stock was down less than 1% as of Thursday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.