PepsiCo FY24 Adj. EPS Outlook $8.15 Vs. $8.14 Estimate
Portfolio Pulse from Benzinga Newsdesk
PepsiCo has updated its FY24 financial outlook, expecting at least a 4% increase in organic revenue and an 8% increase in core constant currency EPS. The company forecasts a core EPS of at least $8.15, surpassing the $8.14 estimate. It anticipates a core annual effective tax rate of 20%, total cash returns to shareholders of approximately $8.2 billion, including $7.2 billion in dividends and $1.0 billion in share repurchases. However, a 1-percentage-point foreign exchange translation headwind is expected to impact reported net revenue and core EPS growth.
February 09, 2024 | 11:03 am
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POSITIVE IMPACT
PepsiCo forecasts a positive FY24 with organic revenue and core EPS growth, planning significant shareholder returns despite forex headwinds.
PepsiCo's updated FY24 outlook indicates strong financial health and growth prospects, with an EPS forecast exceeding estimates. The commitment to shareholder returns through dividends and share repurchases further underscores the company's confidence in its financial stability. However, the mention of foreign exchange translation headwinds suggests some caution, potentially moderating the positive impact on the stock price. Overall, the positive growth outlook and shareholder return plans are likely to be viewed favorably by investors, supporting a short-term positive impact on PepsiCo's stock price.
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IMPORTANCE 90
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