9:32 AM, Oct 3, 2019 — Soft-drinks producer PepsiCo (PEP) reiterated its full-year guidance early on Thursday as the company posted better-than-expected results for its fiscal third-quarter which were supported by sales growth of its eponymous fizzy drink and chips.
The snack food and beverage giant generated revenue of $17.19 billion in the three months ended Sept. 7, up from $16.49 billion in the corresponding quarter of the prior year and comfortably ahead of the consensus estimate of analysts polled by Capital IQ for $16.93 billion.
Broken down by business segment, the largest chunk of revenue came from PepsiCo Beverages North America, worth $5.64 billion, up from $5.46 billion a year earlier. Frito-Lay North America was the second-biggest sales generator, with $4.11 billion, up from $3.89 billion a year earlier.
Revenue from Europe and Sub-Saharan Africa was worth $3.35 billion, up from $3.16 billion. Sales from Asia, the Middle East and Africa came in at $1.61 billion, up from $1.54 billion and revenue from Quaker Foods North America was worth $576 million compared with $567 million a year earlier.
Core earnings came in at $1.56 per share, down from $1.59 per share a year earlier but ahead of the consensus estimate of analysts polled by Capital IQ for $1.51.
PepsiCo reiterated its outlook for the full year 2019, saying that it expects organic revenue growth of 4% and a 1% drop in core earnings per share on a constant currency basis.
Companies: Pepsico, Inc.
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