PepsiCo posted third-quarter organic revenue growth of 16%, with an 11% increase in core operating profit and 14% core constant currency earnings per share. This beat analysts’ estimates, and as of this writing Pepsi stock was up over 4%.
By market, the Frito-Lay North America business grew 20% in the quarter, while PepsiCo Beverages North America grew 13%. International business as a whole grew 16%. By segment, global convenient foods grew 20%, and the global beverage business grew 12%.
The company expects to perform well for the rest of the year. It raised its full-year forecast for organic revenue to 12% (up from 10%) and for core constant currency earnings per share to 10% (up from 8%).
Chairman and CEO Ramon Laguarta commented: “Our strong results demonstrate that the investments we have made towards becoming an even Faster, even Stronger, and even Better company with pep+ at the center of everything we do are working. We are encouraged by the progress we are making on our strategic agenda, and remain committed to investing in our people, brands, supply chain, and go-to-market systems and winning in the marketplace.”
Other recent Pepsi news:
- PepsiCo, ADM Partner to Expand Regenerative Agriculture
- Tyson Foods, Cargill, PepsiCo, and More F&B Companies Commit to Hiring Refugees
- PepsiCo Tops LinkedIn List of Best CPG Companies to Grow a Career
- PepsiCo Expands Efforts To Address Global Food Insecurity, Issues Call To Action To Collaboratively Work Towards Long-Term Solutions
