Beverage Giant PepsiCo Beats On Q3 Earnings, Raises FY23 EPS Outlook Again
Portfolio Pulse from Shivani Kumaresan
PepsiCo Inc reported Q3 FY23 sales growth of 6.7% YoY to $23.45 billion, beating the analyst consensus estimate. Net revenue from Frito-Lay North America, Quaker Foods North America, and PepsiCo Beverages North America increased. Latin America sales jumped 21% YoY, and Europe sales scaled 2%. The company raised its FY23 adjusted EPS outlook from $7.47 to $7.54. PEP shares are trading higher by 2.22% in premarket.
October 10, 2023 | 11:02 am
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POSITIVE IMPACT
PepsiCo reported strong Q3 FY23 results, beating sales estimates and raising its FY23 adjusted EPS outlook. This positive news has led to a premarket increase in PEP shares.
PepsiCo's strong Q3 FY23 results, which beat sales estimates and included a raised EPS outlook, are positive indicators for the company's performance. This has led to increased investor confidence, reflected in the premarket increase in PEP shares.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100