PepsiCo Posts Q3 EPS of $2.23, Beating Expectations
PEP is trading near its 52-week low of $123.47 (0.0% above the low).
Summary
PepsiCo reported third-quarter earnings per share of $2.23, a figure that exceeds consensus expectations and marks a notable improvement from the prior year's quarter. Revenue was $25.27 billion. North America Beverages revenue rose 5% to $7.71 billion, PepsiCo Foods North America revenue was $6.51 billion, Europe, Middle East and Africa revenue was $5.41 billion, and Latin America Foods revenue was $3.02 billion. The company's stock has been trading near its 52-week low of $123.47, and this earnings beat could provide a much-needed catalyst for a rebound. The result follows a period of sluggish North American volumes and price cuts on key snack brands, making this positive earnings surprise particularly significant.
At the time of this announcement, PEP was trading at $123.52 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $168.9B. The 52-week trading range was $123.47 to $171.48. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.