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PepsiCo's beverage business in North America grew 2% for the quarter, offsetting the decline since the third quarter of 2017.
Photo:
Paul Sakuma / Associated Press
Sale of drinks
PepsiCo
Inc.
the domestic market returned to growth in the last period, breaking a series of consecutive declines for four consecutive quarters.
PepsiCo's beverage business in North America grew 2% this quarter, offsetting the decline since the third quarter of 2017. PepsiCo's third quarter revenues increased 1.5% to $ 16.49 billion. Analysts surveyed by Refinitiv were expecting a turnover of $ 16.36 billion.
The company raised Tuesday at least 3% its organic revenue growth forecast for the year 2018, against 2.3% previously.
Overall, manufacturers of Mountain Dew, Gatorade and Doritos posted earnings of $ 2.5 billion, or $ 1.75 per share, versus $ 2.14 billion, or $ 1.49 per share, a year earlier. early. Excluding non-recurring items, PepsiCo posted earnings per share of $ 1.59, exceeding analysts' expectations of $ 1.57 per share on an adjusted basis.
The Snack and Soft Drink Company has been under pressure to restructure its beverage business in the United States after transferring too much marketing and storage money to new brands in the hybrid categories.
PepsiCo also continued its efforts to diversify its portfolio. In August, the company agreed to buy the sewing machine manufacturer, SodaStream International Ltd., for $ 3.2 billion.
PepsiCo shares fell 1% to $ 109.50 in pre-market transactions on Tuesday.
Write to Kimberly Chin at [email protected]
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