PepsiCo earnings top estimates, but 2020 outlook below Wall Street expectations


PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts’ expectations.

Shares of the company rose less than 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.45, adjusted, vs. $1.44 expected
  • Revenue: $20.67 billion, vs. $20.27 billion expected

The food and beverage giant reported fiscal fourth-quarter net income of $1.77 billion, or $1.26 per share, down from $6.85 billion, or $4.83 per share, a year earlier.

Excluding items, the Fritos owner earned $1.45 per share, topping the $1.44 per share expected by analysts surveyed by Refinitiv.

Net sales rose 6% to $20.67 billion, beating expectations of $20.27 billion.

In 2020, Pepsi expects 4% organic revenue growth and 7% earnings per share growth after stripping out currency fluctuations.

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