PepsiCo, Inc. (PEP - Free Report) , the leading manufacturer and marketer of snack foods and beverages, came out with second-quarter 2018 results. The company reported core earnings of $1.61 which outpaced the Zacks Consensus Estimate of $1.51 and improved 8% year over year. In constant currency, core earnings per share rose 7% from the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has witnessed a downtrend in the last 30 days. However, PepsiCo’s performance over the trailing four quarters, excluding the quarter under review, remains encouraging with an average beat of 4.3%.
Revenues: PepsiCo’s revenues grew 2% to $16,090 million but came below the Zacks Consensus Estimate of $16,125 million. Organic revenue also increased 2.6% in the quarter.
Outlook: The company expects organic revenue to increase 2.3% in 2018 flat with 2017. Core earnings per share are envisioned at $5.70, which represents a growth of 9% from the prior year.
Zacks Rank: Currently, PepsiCo carries a Zacks Rank #4 (Sell), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on PEP’s earnings report!
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