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Here's What Key Metrics Tell Us About PepsiCo (PEP) Q3 Earnings
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For the quarter ended September 2023, PepsiCo (PEP - Free Report) reported revenue of $23.45 billion, up 6.8% over the same period last year. EPS came in at $2.25, compared to $1.97 in the year-ago quarter.
The reported revenue represents a surprise of +0.32% over the Zacks Consensus Estimate of $23.38 billion. With the consensus EPS estimate being $2.17, the EPS surprise was +3.69%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how PepsiCo performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net revenue- Asia Pacific, Australia and New Zealand and China Region: $1.22 billion compared to the $1.17 billion average estimate based on three analysts. The reported number represents a change of +3.9% year over year.
Net revenue- Frito-Lay North America: $5.95 billion versus the three-analyst average estimate of $5.99 billion. The reported number represents a year-over-year change of +7%.
Net revenue- Quaker Foods North America: $747 million versus the three-analyst average estimate of $737.69 million. The reported number represents a year-over-year change of +4.8%.
Net revenue- Africa, Middle East and South Asia: $1.62 billion compared to the $1.63 billion average estimate based on three analysts. The reported number represents a change of -6.4% year over year.
Net revenue- PepsiCo Beverages North America: $7.16 billion compared to the $6.93 billion average estimate based on three analysts. The reported number represents a change of +7.9% year over year.
Net revenue- Europe: $3.70 billion compared to the $3.87 billion average estimate based on three analysts. The reported number represents a change of +1.6% year over year.
Net revenue- Latin America: $3.06 billion versus $2.99 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +21.4% change.
Operating income (Non-GAAP)- Asia Pacific, Australia and New Zealand and China Region: $241 million compared to the $205.24 million average estimate based on three analysts.
Operating income (Non-GAAP)- Frito-Lay North America: $1.68 billion compared to the $1.71 billion average estimate based on three analysts.
Operating income (Non-GAAP)- Latin America: $601 million compared to the $572.23 million average estimate based on three analysts.
Operating income (Non-GAAP)- Corporate unallocated: -$554 million versus the three-analyst average estimate of -$460.98 million.
Operating income (Non-GAAP)- Africa, Middle East and South Asia: $249 million versus $261.84 million estimated by three analysts on average.
Shares of PepsiCo have returned -9.8% over the past month versus the Zacks S&P 500 composite's -2.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Here's What Key Metrics Tell Us About PepsiCo (PEP) Q3 Earnings
For the quarter ended September 2023, PepsiCo (PEP - Free Report) reported revenue of $23.45 billion, up 6.8% over the same period last year. EPS came in at $2.25, compared to $1.97 in the year-ago quarter.
The reported revenue represents a surprise of +0.32% over the Zacks Consensus Estimate of $23.38 billion. With the consensus EPS estimate being $2.17, the EPS surprise was +3.69%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how PepsiCo performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net revenue- Asia Pacific, Australia and New Zealand and China Region: $1.22 billion compared to the $1.17 billion average estimate based on three analysts. The reported number represents a change of +3.9% year over year.
- Net revenue- Frito-Lay North America: $5.95 billion versus the three-analyst average estimate of $5.99 billion. The reported number represents a year-over-year change of +7%.
- Net revenue- Quaker Foods North America: $747 million versus the three-analyst average estimate of $737.69 million. The reported number represents a year-over-year change of +4.8%.
- Net revenue- Africa, Middle East and South Asia: $1.62 billion compared to the $1.63 billion average estimate based on three analysts. The reported number represents a change of -6.4% year over year.
- Net revenue- PepsiCo Beverages North America: $7.16 billion compared to the $6.93 billion average estimate based on three analysts. The reported number represents a change of +7.9% year over year.
- Net revenue- Europe: $3.70 billion compared to the $3.87 billion average estimate based on three analysts. The reported number represents a change of +1.6% year over year.
- Net revenue- Latin America: $3.06 billion versus $2.99 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +21.4% change.
- Operating income (Non-GAAP)- Asia Pacific, Australia and New Zealand and China Region: $241 million compared to the $205.24 million average estimate based on three analysts.
- Operating income (Non-GAAP)- Frito-Lay North America: $1.68 billion compared to the $1.71 billion average estimate based on three analysts.
- Operating income (Non-GAAP)- Latin America: $601 million compared to the $572.23 million average estimate based on three analysts.
- Operating income (Non-GAAP)- Corporate unallocated: -$554 million versus the three-analyst average estimate of -$460.98 million.
- Operating income (Non-GAAP)- Africa, Middle East and South Asia: $249 million versus $261.84 million estimated by three analysts on average.
View all Key Company Metrics for PepsiCo here>>>Shares of PepsiCo have returned -9.8% over the past month versus the Zacks S&P 500 composite's -2.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.