PepsiCo Beats Q3 Profit Forecast, Boosts Full-Year Guidance

PepsiCo PEP posted stronger-than-expected third quarter earnings Thursday, and forecast solid full-year profits, as pandemic snack sales continued to pace top line growth. 

PepsiCo said earnings for the three months ending in August were pegged at $1.65 per share, up 5.8% from the same period last year and well ahead of the Street consensus forecast of $1.49 per share. Group revenues, PepsiCo said, rose 5.3% to $18.1 billion, again topping analysts forecasts of a $17.3 billion tally.

Looking into the final months of the year, PepsiCo said it sees core earnings of $5.50 per share, jumping ahead of the Refinitiv forecast of $5.36 per share.

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