PepsiCo (PEP) Q3 2021 earnings beat

PepsiCo on Tuesday raised its full-year forecast after its quarterly earnings and income topped analysts’ expectations, regardless of larger prices and snarls within the provide chain.

Shares of the corporate fell lower than 1% in premarket buying and selling.

Here is what the corporate reported in contrast with what Wall Avenue was anticipating, based mostly on a survey of analysts by Refinitiv:

• Earnings per share: $1.79 adjusted vs. $1.73 anticipated
• Income: $20.19 billion vs. $19.39 billion anticipated

Pepsi reported fiscal third-quarter internet revenue of $2.22 billion, or $1.60 per share, down from $2.29 billion, or $1.65 per share, a yr earlier.

Excluding objects, the meals and beverage large earned $1.79 per share, topping the $1.73 per share anticipated by analysts surveyed by Refinitiv.

Internet gross sales rose 11.6% to $20.19 billion, beating expectations of $19.39 billion. The corporate’s natural income, which strips out the affect of acquisitions and divestitures, climbed 9% within the quarter.

For the complete yr, Pepsi stated it expects its natural income to extend by 8%, up from its prior forecast of 6% progress. The corporate reiterated its forecast for core fixed foreign money earnings per share of 11% progress.