PepsiCo (PEP, Financial) released its third-quarter financial results, revealing a 0.6% year-on-year decline in revenue to $23.32 billion, missing the market expectation of $23.76 billion. However, adjusted earnings per share rose by 5% to $2.31, surpassing the expected $2.29.
PepsiCo (PEP) reported declining third-quarter revenue and profit, and again lowered its full-year sales outlook, as the beverage and snack giant said inflation has continued to impact consumer spending.
It's not very often that investors get to pick up a value deal from the stock market. Still, when these sorts of opportunities come around, everyone should get involved before the chance is erased.
PepsiCo (PEP) came out with quarterly earnings of $2.31 per share, beating the Zacks Consensus Estimate of $2.30 per share. This compares to earnings of $2.25 per share a year ago.
Wall Street is gearing up for a firmer start on Tuesday after stocks pulled back sharply in the previous session. The index futures firmed up amid a pullback in the 10-year Treasury note yield and dovish comments issued by a Federal Reserve official.
PepsiCo reported third-quarter earnings that beat Wall Street's estimates, but its revenue was weaker than expected. The food and beverage giant lowered its full-year outlook for organic revenue.
Pepsi's earnings call should provide insight into the health of the consumer.
Last quarter, after sales missed estimates, Pepsi's CEO highlighted a price conscious consumer and hinted at the need for lower prices.
Shares of PepsiCo Inc (NASDAQ:PEP) are trading down 0.5% at $167.21 this afternoon, with traders gearing up for the company's third-quarter earnings, which are due out before the open tomorrow, Tuesday, Oct. 8.
"You can go without anything that Pepsi makes," according to Landon Swan with @LikeFolio. That means consumers can cut the company out of their everyday spending.
Wall Street expects PepsiCo Inc PEP to announce $2.29 in earnings per share when the soft drink giant announces third-quarter earnings before market hours Tuesday.
PepsiCo, Inc. PEP will release earnings results for its third quarter, before the opening bell on Tuesday, Oct. 8.