PepsiCo tops Q2 estimates

PepsiCo Inc. (PEP) reported its Q2 earnings results before the opening bell on Wall Street on Tuesday.

The US beverage and food company reported revenue of $20.225 billion for the quarter vs. analyst forecast of $19.513 billion.

Earnings per share also reported above analyst expectations at $1.86 per share vs. $1.74 per share estimate.

”We are pleased with our results for the second quarter as our business momentum continued despite ongoing macroeconomic and geopolitical volatility and higher levels of inflation across our markets,” Chairman and CEO Ramon Laguarta commented on the latest results following the announcement.

”Our results are indicative of our highly dedicated employees, the strength and resilience of our categories, agile supply chain and go-to-market systems and strong marketplace execution. Our performance also gives us confidence that our investments to become an even Faster, even Stronger, and even Better organization by winning with pep+ are working. Given our year-to-date performance, we now expect our full-year organic revenue to increase 10 percent (previously 8 percent) and we continue to expect core constant currency earnings per share to increase 8 percent,” Laguarta concluded.

PepsiCo (PEP) chart

The latest results did not have a huge impact on the shares price, the stock was down by 0.57% at $169.34 per share on Tuesday.

Here is how the stock has performed in the past year:

• 1 Month +9.71%
• 3 Month -1.17%
• Year-to-date -1.40%
• 1 Year +11.98%

PepsiCo price targets

• Deutsche Bank $178
• Barclays $183
• JP Morgan $185
• UBS $182
• Wells Fargo $172
• Credit Suisse $168
• Morgan Stanley $198

PepsiCo Inc. is the 36^th largest company in the world with a market cap of $236.89 billion.

You can trade PepsiCo Inc. (PEP) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: PepsiCo Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap