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PEP Stock Up Slightly Today, PepsiCo Reports Better Than Expected Q3 2021 Earnings

UTC by Steve Muchoki · 2 min read
PEP Stock Up Slightly Today, PepsiCo Reports Better Than Expected Q3 2021 Earnings
Photo: Depositphotos

PepsiCo reported revenue of $20.19 billion during the three months ending on September 4, against $19.39 billion expected by analysts.

PepsiCo Inc (NASDAQ: PEP) stock traded around $150.90, up approximately 0.47% during today’s premarket trading session. The tweak in PepsiCo is partially attributed to Q3 earnings results that beat analysts’ expectations. Consequently, the company raised its full-year forecast.

Notably, PepsiCo reported revenue of $20.19 billion during the three months ending on September 4, against $19.39 billion expected by analysts. Additionally, the firm reported adjusted earnings per share of $1.79 during the third quarter against an estimate of $1.73.

Worth noting, the company reported a net income of $2.22 billion, or $1.60 per share, from $2.29 billion, or $1.65 per share, a year earlier.

“We are pleased with our results for the third quarter as we delivered very strong net revenue growth while carefully navigating a dynamic and volatile supply chain and cost environment,” said CEO Ramon Laguarta. “Given our year-to-date performance, we now expect our full-year organic revenue to increase approximately 8% and core constant currency earnings per share to increase at least 11%,”

Despite experiencing notable disruptions in its supply chain, caused by the ongoing Covid crisis, the company has managed to significantly scale its operations across the market.

“Our strong year-to-date results demonstrate that the investments we have made towards becoming a Faster, Stronger, and Better company are working. To further complement and enhance our strategic framework, we recently introduced PepsiCo Positive (pep+), a fundamental end-to-end transformation of what we do and how we do it to create growth and shared value with sustainability and human capital at the center,” he added.

PepsiCo Stock and the Company’s Performance in Q3

PEP stock market has gained approximately 10.69%, and 1.28% in the past twelve months and year-to-date respectively through Monday according to market analytics provided by MarketWatch. The company has a reported market valuation of approximately $208.63 billion, and 1.38 billion outstanding shares.

In the past 52 weeks, the PEP stock market has ranged between $128.32 and $159.63. Having been rated 23 times, PEP shares received an average rating of Over, indicating a general upward trend in the foreseeable future.

During the earnings call, Laguarta noted that the company has significantly invested in various aspects that are poised to take the company higher in the coming quarters.

“We are extremely pleased with the progress we are making on our strategic agenda, and remain committed to the investments in our people, supply chain, plants, go-to-market systems, and digitization initiatives to build competitive advantages and win in the marketplace,” Laguarta added.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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