PepsiCo (PEP) Tops Q2 EPS by 7c

PepsiCo (NASDAQ: PEP) reported Q2 EPS of $1.32, $0.07 better than the analyst estimate of $1.25. Revenue for the quarter came in at $15.95 billion versus the consensus estimate of $15.34 billion.

Guidance and Outlook:

As previously disclosed, the Company’s financial outlook regarding fiscal year 2020 is no longer applicable given the continued uncertainties associated with the magnitude and duration of the COVID-19 pandemic on its business.
However, the Company continues to expect:

• A core effective tax rate of approximately 21 percent; and

• Total cash returns to shareholders of approximately $7.5 billion, comprised of dividends of $5.5 billion and share repurchases of $2 billion.

In addition, the Company now expects a 3 percentage-point foreign exchange translation headwind to negatively impact reported net revenue and core EPS performance based on current market consensus rates.

For earnings history and earnings-related data on PepsiCo (PEP) click here.

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