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The strong growth in sales of its snacks and beverages has allowed PepsiCo to exceed its earnings guidance, despite the slowing of the foreign exchange market.
The company's shares rose by less than 1% in pre-market trading.
"Our performance for the first half and the progress we are making on our strategic priorities gives us greater confidence in meeting the 2019 financial goals we announced earlier this year," said CEO Ramon Laguarta in a statement.
During fiscal year 2019, the company expects organic revenue growth of 4% and a 1% decline in adjusted earnings per share, at currency exchange rates. constant.
Here's what the company reported about what Wall Street was waiting for, according to an analyst poll by Refinitiv:
- Earnings per share: $ 1.54, adjusted, compared to $ 1.50 expected
- Turnover: 16.449 billion dollars against 16.426 billion dollars planned
The soda giant reported second-quarter net income of $ 2.04 billion, or $ 1.44 a share, down from $ 1.82 billion, or $ 1.28 a share, a year earlier.
Excluding restructuring and impairment charges, tax benefits and other extraordinary items, Pepsi posted earnings per share of $ 1.54, exceeding the $ 1.50 expected by analysts surveyed by Refinitiv.
Net sales rose 2.2% to $ 16.44 billion, exceeding expectations by $ 16.43 billion. The company said currency fluctuations had a negative impact on its revenues during the quarter.
The second quarter organic business figure increased 4.5%, exceeding the expected growth of 4.4%.
Frito-Lay North America recorded the strongest performance, recording organic revenue growth of 5%. The maker of Cheetos attributed the success of the unit to the growth in sales of convenience stores and dollar stores.
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