PepsiCo tops Q2 estimates
13 July 2022PepsiCo Inc. (PEP) reported its Q2 earnings results before the opening bell on Wall Street on Tuesday.
The US beverage and food company reported revenue of $20.225 billion for the quarter vs. analyst forecast of $19.513 billion.
Earnings per share also reported above analyst expectations at $1.86 per share vs. $1.74 per share estimate.
”We are pleased with our results for the second quarter as our business momentum continued despite ongoing macroeconomic and geopolitical volatility and higher levels of inflation across our markets,” Chairman and CEO Ramon Laguarta commented on the latest results following the announcement.
”Our results are indicative of our highly dedicated employees, the strength and resilience of our categories, agile supply chain and go-to-market systems and strong marketplace execution. Our performance also gives us confidence that our investments to become an even Faster, even Stronger, and even Better organization by winning with pep+ are working. Given our year-to-date performance, we now expect our full-year organic revenue to increase 10 percent (previously 8 percent) and we continue to expect core constant currency earnings per share to increase 8 percent,” Laguarta concluded.
PepsiCo (PEP) chart
The latest results did not have a huge impact on the shares price, the stock was down by 0.57% at $169.34 per share on Tuesday.
Here is how the stock has performed in the past year:
- 1 Month +9.71%
- 3 Month -1.17%
- Year-to-date -1.40%
- 1 Year +11.98%
PepsiCo price targets
- Deutsche Bank $178
- Barclays $183
- JP Morgan $185
- UBS $182
- Wells Fargo $172
- Credit Suisse $168
- Morgan Stanley $198
PepsiCo Inc. is the 36th largest company in the world with a market cap of $236.89 billion.
You can trade PepsiCo Inc. (PEP) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: PepsiCo Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.
Next Article
Oil dips to the bottom of its range as recession fears hit the market.
Oil has seen its first real slip up in price since March. The commodity had been running on the back of high inflation and supply issues stemming from the Russian and Ukraine crisis. During the run Oil peaked at $137 a barrel before entering a period of consolidation. The recent catalyst for the drop was OPEC announcing that 2023 would likely re...
Previous Article
Market Update – The week ahead
Equity Indices saw some positive price action over the last week. The US continued to rally, albeit with a sense of unsurety. The S&P 500 finished...
