{"id":112341,"date":"2021-02-11T11:43:57","date_gmt":"2021-02-11T11:43:57","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112341"},"modified":"2021-02-11T11:43:57","modified_gmt":"2021-02-11T11:43:57","slug":"pepsi-revenue-up-8-8-fueling-earnings-beat-sees-2021-results-meeting-long-term-targets","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/pepsi-revenue-up-8-8-fueling-earnings-beat-sees-2021-results-meeting-long-term-targets\/","title":{"rendered":"Pepsi revenue up 8.8% fueling earnings beat, sees 2021 results meeting long-term targets"},"content":{"rendered":"<ul>\n<li>PepsiCo topped Wall Street&#x27;s estimates for its fourth-quarter earnings and revenue.<\/li>\n<li>In 2021, the company is anticipating mid-single digit growth in organic revenue and high-single digit growth in core earnings per share.<\/li>\n<li>Pepsi benefited from the continuation of pandemic snacking trends, as well as strong sales of its drinks.<\/li>\n<\/ul>\n<p>PepsiCo on Thursday reported fourth-quarter earnings that topped estimates, fueled by pandemic snacking and higher sales of drinks like Gatorade Zero and Bubly sparkling water.<\/p>\n<p>On the heels of the strong quarter, the Frito-Lay owner said that it expects its 2021 results to meet long-term financial targets.<\/p>\n<p>Shares of the company fell less than 1% in premarket trading.<\/p>\n<p>Here&#x27;s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:<\/p>\n<ul>\n<li>Earnings\u00a0per share: $1.47,\u00a0adjusted, vs. $1.46 expected<\/li>\n<li>Revenue: $22.46 billion vs. $21.78 billion expected<\/li>\n<\/ul>\n<p>The company reported fiscal fourth-quarter net income of $1.85 billion, or $1.33 per share, up from $1.77 billion, or $1.26 per share, a year earlier.<\/p>\n<p>Excluding items, Pepsi earned $1.47 per share, beating the $1.46 per share expected by analysts surveyed by Refinitiv.<\/p>\n<p>Net sales\u00a0rose\u00a08.8% to $22.46 billion, topping expectations of $21.78 billion.<\/p>\n<p>In 2021, Pepsi is anticipating mid-single digit growth in organic revenue and high-single digit growth in core earnings per share, which assumes constant foreign currency exchange rates. The company is also hiking its dividend by 5%, starting in June.<\/p>\n<p>&quot;For 2021, we are planning for our organic revenue and core constant currency EPS growth to be consistent with our long-term objectives,&quot; CEO Ramon Laguarta said in a statement.<\/p>\n<p>Read the full report here.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/02\/11\/pepsico-pep-q4-2020-earnings-beat.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PepsiCo topped Wall Street&#x27;s estimates for its<\/p>\n","protected":false},"author":3,"featured_media":112340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pepsi revenue up 8.8% fueling earnings beat, sees 2021 results meeting long-term targets - 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