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.
Before we get to the big banks, a consumer staples favorite, PepsiCo (PEP), is on the reporting docket for next week (Tuesday, October 8th) before the market opens.
PepsiCo (PEP) reports earnings Tuesday morning, with analysts expecting modest growth in revenue and profits after the company warned consumers have become more value-conscious, holding back sales.
PepsiCo, Inc.'s Q3 earnings report is anticipated to show modest revenue growth but strong EPS performance, continuing its trend of beating EPS estimates. Quaker Foods' performance remains a concern due to product recalls and declining revenues, impacting overall company growth. The North America Beverage segment shows strong margin expansion despite revenue declines, driven by zero sugar variants and Gatorade.
Continued soft trends in North America, including headwinds in the QFNA segment, are expected to mar PEP's Q3 results. Its growth initiatives appear promising.