PepsiCo added another round of price increases to its solid organic sales growth, allowing the drinks and snacks giant to lift its full year profit forecast for a third straight quarter.
shares moved higher in pre-market trading after it posted stronger-than-expected third quarter earnings, while boosting its full-year profit forecast, as it continues to pass on price increases in both its snacks and drinks business.
Group revenues, PepsiCo said, were narrowly ahead of forecast at $23.45 billion and up 6.7% from the same period last year. Organic sales growth, a key figure for earnings potential that separates currency market impacts as well as mergers and acquisitions, rose 8.8% from last year, the company said.
Looking into the 2023 financial year, PepsiCo said sees organic revenue growth of around 10% with core earnings for the year rising to $7.54 per share, a 6 cent increase from its prior estimate.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
PepsiCo third-quarter core earnings per share top estimates amid price hikesPepsiCo third-quarter core earnings per share top estimates amid price hikes
Consulte Mais informação »
PepsiCo lifts profit forecast again as price hikes fail to dent demandPepsiCo lifts profit forecast again as price hikes fail to dent demand
Consulte Mais informação »
Dow futures rise; Fed speakers in focus, PepsiCo lifts forecastDow futures rise; Fed speakers in focus, PepsiCo lifts forecast
Consulte Mais informação »
PepsiCo hikes prices by double digits for the 7th consecutive quarter and profits jump 14%PepsiCo’s revenue rose 7% in the third quarter despite lower demand as the company continued to hike prices.
Consulte Mais informação »
PepsiCo hikes prices by double digits for the 7th consecutive quarter and profits jump 14%PepsiCo’s revenue rose 7% in the third quarter despite lower demand as the company continued to hike prices.
Consulte Mais informação »
PepsiCo, Rivian and Honeywell rise premarket; Jupiter, Corning fallPepsiCo, Rivian and Honeywell rise premarket; Jupiter, Corning fall
Consulte Mais informação »