Pepsi revenue up 8.8% fueling earnings beat, sees 2021 results meeting long-term targets

PepsiCo on Thursday reported fourth-quarter earnings that topped estimates, fueled by pandemic snacking and better gross sales of drinks like Gatorade Zero and Bubly glowing water.

On the heels of the sturdy quarter, the Frito-Lay proprietor stated that it expects its 2021 results to fulfill long-term monetary targets.

Shares of the corporate fell lower than 1% in premarket buying and selling.

Here’s what the corporate reported in contrast with what Wall Street was anticipating, based mostly on a survey of analysts by Refinitiv:

• Earnings per share: $1.47, adjusted, vs. $1.46 anticipated
• Revenue: $22.46 billion vs. $21.78 billion anticipated

The firm reported fiscal fourth-quarter web earnings of $1.85 billion, or $1.33 per share, up from $1.77 billion, or $1.26 per share, a 12 months earlier.

Excluding objects, Pepsi earned $1.47 per share, beating the $1.46 per share anticipated by analysts surveyed by Refinitiv.

Net gross sales rose 8.8% to $22.46 billion, topping expectations of $21.78 billion.

In 2021, Pepsi is anticipating mid-single digit development in natural revenue and high-single digit development in core earnings per share, which assumes fixed overseas forex change charges. The firm can be climbing its dividend by 5%, beginning in June.

“For 2021, we are planning for our organic revenue and core constant currency EPS growth to be consistent with our long-term objectives,” CEO Ramon Laguarta stated in an announcement.

Read the total report right here.