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PepsiCo
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the tender drinks and snacks large, reported fourth-quarter adjusted earnings of $1.53 a share on income of $25.3 billion, each larger than analysts’ estimates, and the inventory was rising in premarket buying and selling Thursday.
PepsiCo (ticker: PEP) additionally boosted its annual dividend and introduced a brand new inventory buyback program of as much as $10 billion.
Analysts surveyed by FactSet had been anticipating earnings of $1.52 a share on income of $24.24 billion. A 12 months earlier, PepsiCo (ticker: PEP) earned $1.47 a share on income of $22.5 billion.
Natural income progress within the fourth quarter was 11.9%. For 2022, the corporate mentioned it expects natural income progress of 6%.
“Moreover, we anticipate to ship 8% core fixed forex earnings per share progress, which displays the influence of inflationary pressures throughout our price chain and deliberate investments in our enterprise,” the corporate mentioned in a press release.
Pepsi mentioned it expects core earnings in 2022 of $6.67 a share, in contrast with Wall Road estimates of $6.73.
The corporate raised its annual dividend 7% to $4.60 a share, up from $4.30, and Pepsi’s board licensed a buyback of as much as $10 billion of inventory via February 2026.
The inventory rose 1.5% to $174.50 in premarket buying and selling Thursday.
At Frito-Lay North America, working revenue within the fourth quarter rose 10% and income rose 13% from a 12 months earlier to about $6.2 billion, larger than forecasts. PepsiCo Drinks North America working revenue fell 10% on income of $7.64 billion, up 13%.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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