- PepsiCo Inc PEP reported Revenue growth in Q3 FY22 of 8.8% year over year to $21.97 billion, beating the consensus of $20.81 billion.
- Frito-Lay North America net sales increased 20% year over year, Quaker Foods North America increased 15% and PepsiCo Beverages North America increased 4%. Latin America revenue increased 20% year over year.
- Gross profit increased 8% year over year to $11.7 billion, and profit margin fell 40 basis points year over year to 53.1%.
- Operating margin declined 30 basis points to 15.3% and operating income for the quarter increased 6.1% to $3.4 billion.
- also read: Elon Musk Announces Start of Production of Tesla Semi Trucks – Pepsi Receives First Deliveries
- The company had $6.5 billion in cash and cash equivalents as of October 3, 2022. Year-to-date net cash inflows from operations totaled $6.3 billion.
- Core EPS of $1.97 beat analyst consensus of $1.84.
- outlook: PepsiCo expects FY22 organic revenue growth of 12% (previously 10%).
- It provides for a constant currency for the core of fiscal year 22 EPS growth of 10% (previously 8%). Pepsico expects FY22 Core EPS of around $6.73 (previously $6.63) versus an estimate of $6.69.
- Pepsico expects cash returns to shareholders totaling $7.7 billion, comprised of $6.2 billion in dividends and $1.5 billion in share repurchases.
- Price promotion: PEP shares are trading up 1.39% at $164.85 on the latest premarket check Wednesday.
- Photo via company
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