PepsiCo’s Snack Offerings Explode in Popularity, Quarterly Revenue Rises by 5.3%

Picture of Pepsi Cola soda can

Source: Dreamstime

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On Thursday, PepsiCo reported that more and more consumers are starting to purchase its recently released Tostitos and pancake mixes.

The company’s shares rose by 1% shortly after the news. Here is a more in-depth look at how PepsiCo fared throughout Q3 2020:

 

Earnings per share: $1.66 (analysts forecasted $1.49)

Revenue: $18.09 billion (analysts forecasted $17.23 billion)

Net income: $2.29 billion (up from $2.1 billion a year earlier)

Operating costs: $147 million during the quarter due to COVID-19

 

In addition, both its Frito-Lay and Quaker Foods businesses reported organic revenue growth of 6%, while PepsiCo increased its organic sales by 3%. On an international scale, the company’s reported organic sales growth was 4% despite the recent rise in COVID-19 cases across the globe. According to CEO Ramon Laguarta, the new restrictions are not expected to impact the business as hard as the lockdowns from April and May.

Financial outlook for Q4 2020

For the remainder of 2020, PepsiCo expects to generate organic revenue growth of 4% and core EPS of $5.50 (38 cents less than what the company had originally forecasted).


Upcoming reports

See the full list of upcoming earnings reports for 5 – 9 October in the tables below.

Monday, October 5th 2020

Country of originCompany nameFiscal period
USAMattel IncThird quarter of 2020
United KingdomManchester United PLCFourth quarter of 2020

Tuesday, October 6th 2020

Country of originCompany nameFiscal period
USALevi Strauss & CoThird quarter of 2020
USAPaychex IncFirst quarter of 2021
United KingdomRestaurant Group PLCHalf year 2020

Wednesday, October 7th 2020

Country of originCompany nameFiscal period
United KingdomTesco PLC
Half year 2021

Thursday, October 8th 2020

Country of originCompany nameFiscal period
USADomino's Pizza IncThird quarter of 2020
GermanySuedzucker AGSecond quarter of 2021

Friday, October 9th 2020

Country of originCompany nameFiscal period
United KingdomJ D Wetherspoon PLCFull year 2020

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