PepsiCo (PEP) Tops Q3 EPS by 5c, Revs Modestly Lower; Guides FY17 EPS Above Views
PepsiCo (NYSE: PEP) reported Q3 EPS of $1.48, $0.05 better than the analyst estimate of $1.43. Revenue for the quarter came in at $16.24 billion versus the consensus estimate of $16.31 billion.
The Company now expects core 2017 earnings per share of $5.23, versus the consensus of $5.16.
“Overall, our businesses performed well in the third quarter in what continues to be a challenging environment,” said Chairman and CEO Indra Nooyi. “Each of our operating sectors delivered results in line with or ahead of our expectations, with the exception of North America Beverages (NAB) where revenues declined following two consecutive years of very strong third-quarter growth. Despite the challenges in our NAB business, the PepsiCo portfolio overall generated revenue, operating profit and earnings per share growth. Although we have moderated our full-year organic revenue growth outlook, we are now on track to exceed the full-year earnings per share target we set at the beginning of the year.”
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