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

Pepsi tender drinks are displayed at a convenience store in San Francisco, California.

Justin Sullivan | Getty Pictures

PepsiCo on Thursday reported fourth-quarter earnings that topped estimates, fueled by pandemic snacking and bigger sales of drinks esteem Gatorade Zero and Bubly wise water.

On the heels of the stable quarter, the Frito-Lay proprietor acknowledged that it expects its 2021 outcomes to meet long-period of time financial targets.

Shares of the firm fell much less than 1% in premarket trading.

Right here’s what the firm reported when in contrast with what Wall Avenue modified into once trying ahead to, based utterly mostly on a ask of analysts by Refinitiv:

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

The firm reported fiscal fourth-quarter rep earnings of $1.85 billion, or $1.33 per section, up from $1.77 billion, or $1.26 per section, a year earlier.

With the exception of for objects, Pepsi earned $1.47 per section, beating the $1.46 per section anticipated by analysts surveyed by Refinitiv.

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

In 2021, Pepsi is anticipating mid-single digit insist in natural income and high-single digit insist in core earnings per section, which assumes fixed international replace alternate rates. The firm is also mountain mountain climbing its dividend by 5%, starting in June.

“For 2021, we’re planning for our natural income and core fixed currency EPS insist to be according to our long-period of time objectives,” CEO Ramon Laguarta acknowledged in a press free up.

Learn the plump document here.