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Home / Business / PepsiCo earnings top estimates on strong snack and drink sales

PepsiCo earnings top estimates on strong snack and drink sales



The PepsiCo shares rose slightly on Tuesday after the company's profit in the second quarter peaked, as healthier snacks and sparkling water contributed to increased sales volume growth and offset a murder from foreign currency.

Shares in the company increased less than 1% in premarket trading.

"Our first half results and our progress on our strategic priorities give us increased confidence in achieving the 2019 financial goals we communicated earlier this year," says CEO Ramon Laguarta in a statement.

In fiscal policy 2019 that organic revenue will grow by 4% and adjusted earnings per share, based on constant exchange rates, by 1

%.

This is what the company reported compared to what Wall Street expected, based on a survey by Refinitiv analysts: [19659006] Earnings per share: $ 1.54, adjusted, against $ 1.50 expected

  • Revenue: $ 16.449 billion against $ 16.426 billion expected
  • The soda giant reported tax net income of $ 2.04 billion, or $ 1 , $ 44 billion, up from $ 1.82 billion, or $ 1.28 per share, the previous year.

    Excluding restructuring and write-downs, tax assets and other special items e Pepsi $ 1.54 per share, and topped at $ 1.50 per share d by analysts examined by Refinitiv.

    Net sales increased 2.2% to $ 16.44 billion, beating expectations at $ 16.43 billion. The company said that currency fluctuations had a negative impact on revenue in the quarter.

    Organic sales in the second quarter increased by 4.5%, and they expected 4.4% growth. Pepsi has tried to increase sales by investing more in advertising and marketing, as well as focusing on healthier food and drink options.

    Frito-Lay North America was the strongest performer and reported organic growth of 5%. Cheetos maker credited sales growth in convenience and dollar stores for the unit's success.

    In its North American Quaker Foods business, grain and Aunt Jemima returned wage syrup for growth, giving the segment its strongest quarterly organic turnover of three years.

    Comeback of his North American beverage business continued, helped by his Starbucks coffee drink and water business. Organic sales increased by 2.2%. Instead, when consumers drink less soda, Pepsi has turned to higher growth drink categories instead of releasing energy drinks such as Mtn Dew Game Fuel and jumping on sparkling water trends with Bubly.


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