PepsiCo Raises FY23 EPS Outlook, Sees Adj. EPS of $7.54 ($7.47 Prior) Vs. $7.48 Estimate
Portfolio Pulse from Benzinga Newsdesk
PepsiCo has raised its FY23 EPS outlook to $7.54, up from the previous $7.47, and above the $7.48 estimate. The company expects 13% core constant currency EPS growth, 10% organic revenue growth, a core annual effective tax rate of 20%, and total cash returns to shareholders of approximately $7.7 billion. For FY24, PepsiCo expects results towards the upper end of its long-term target ranges for both organic revenue and core constant currency EPS growth.
October 10, 2023 | 10:04 am
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PepsiCo's raised FY23 EPS outlook and expectations for growth in organic revenue and EPS could positively impact its stock in the short term.
PepsiCo's raised EPS outlook for FY23 and expectations for growth in organic revenue and EPS indicate strong financial performance, which is likely to be viewed positively by investors and could drive up the company's stock price in the short term.
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