PepsiCo Raises FY23 Outlook: Organic Revenue Growth +10% (+8% Prior), Adj. EPS +12% (+9% Prior). Sees Adj. EPS of $7.47 ($7.27 Prior) Vs. $7.32 Estimate
Portfolio Pulse from Benzinga Newsdesk
PepsiCo has raised its FY23 outlook, expecting 10% organic revenue growth (up from 8%) and 12% core constant currency EPS growth (up from 9%). The company also anticipates a core annual effective tax rate of 20% and total cash returns to shareholders of approximately $7.7 billion. The guidance implies a 2023 core EPS of $7.47, a 10% increase compared to 2022 core EPS of $6.79.
July 13, 2023 | 10:05 am
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POSITIVE IMPACT
PepsiCo's raised FY23 outlook indicates strong financial performance, which could positively impact its stock price in the short term.
PepsiCo's raised outlook for FY23, including higher organic revenue growth and EPS growth, indicates strong financial performance. This news is likely to be viewed positively by investors, potentially leading to an increase in the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100