Pepsi (PEP) Tops Q3 Views on Increase in Bevs, Snack Volume; Outlook Reaffirmed
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Cash dividends declared per common share: 0.75
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Financial Fact:
Cash dividends declared per common share: 0.75
Today's EPS Names:
BTTX, VAXX, ELYS, More
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PepsiCo (NYSE: PEP) shares are trading slightly higher Wednesday, following it's third-quarter earnings report amid an increase in snack and beverage volumes.
Revenue for Pepsi grew 13 percent from $15.514 billion to $17.582 billion. Net income rose 4 percent from $1.922 billion to $2.000 billion, or $1.25 per diluted share. Excluding merger and mark-to-market costs, and earnings came in at $1.31 per share.
Overall, the Street was looking for revenue of $17.25 billion and earnings of $1.30 per share.
Pepsi reported that worldwide snacks volume increased 8 percent reflecting broad-based gains in the snacks portfolio and the impact of the Wimm-Bill-Dann (WBD) acquisition. Excluding the impact of the WBD acquisition, snacks volume grew 3 percent.
Further, worldwide beverage volume increased 4 percent, including a 3-percentage-point impact from the WBD acquisition. Volume performance was led by growth in emerging markets, where organic volume increased 8 percent in snacks and 3 percent in beverages.
PepsiCo Americas Beverages (PAB) saw a 3 percent increase in net revs, Quaker Foods net revenue increased 2 percent, and overall PepsiCo Americas Foods net revenue rose 8 percent.
Fiscal 2011 outlook was reaffirmed, and Pepsi expects to buy back about $2.5 billion of common stock in 2011.
Revenue for Pepsi grew 13 percent from $15.514 billion to $17.582 billion. Net income rose 4 percent from $1.922 billion to $2.000 billion, or $1.25 per diluted share. Excluding merger and mark-to-market costs, and earnings came in at $1.31 per share.
Overall, the Street was looking for revenue of $17.25 billion and earnings of $1.30 per share.
Pepsi reported that worldwide snacks volume increased 8 percent reflecting broad-based gains in the snacks portfolio and the impact of the Wimm-Bill-Dann (WBD) acquisition. Excluding the impact of the WBD acquisition, snacks volume grew 3 percent.
Further, worldwide beverage volume increased 4 percent, including a 3-percentage-point impact from the WBD acquisition. Volume performance was led by growth in emerging markets, where organic volume increased 8 percent in snacks and 3 percent in beverages.
PepsiCo Americas Beverages (PAB) saw a 3 percent increase in net revs, Quaker Foods net revenue increased 2 percent, and overall PepsiCo Americas Foods net revenue rose 8 percent.
Fiscal 2011 outlook was reaffirmed, and Pepsi expects to buy back about $2.5 billion of common stock in 2011.
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