{"id":2446,"date":"2021-10-05T08:49:19","date_gmt":"2021-10-05T12:49:19","guid":{"rendered":"https:\/\/liferep.net\/?p=2446"},"modified":"2021-10-05T08:53:40","modified_gmt":"2021-10-05T12:53:40","slug":"tuesday-october-4-2021","status":"publish","type":"post","link":"https:\/\/liferep.net\/?p=2446","title":{"rendered":"Tuesday October 5, 2021"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Remember, Pepsi didnt tell their employees they &#8221; were too white&#8221; like Coke did<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">everything woke turns to S&amp;^T<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Pepsi earnings top estimates despite higher supply chain costs, company raises revenue forecast<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">PUBLISHED TUE, OCT 5 20216:08 AM EDTUPDATED 2 HOURS AGO<a href=\"https:\/\/www.cnbc.com\/amelia-lucas\/\">Amelia Lucas<\/a><a href=\"https:\/\/twitter.com\/@Thxamelian\" target=\"_blank\" rel=\"noreferrer noopener\">@THXAMELIAN<\/a>SHAREShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailKEY POINTS<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>PepsiCo raised its full-year forecast after its quarterly&nbsp;earnings&nbsp;and revenue topped analysts\u2019 expectations.<\/li><li>The company\u2019s organic revenue climbed 9% in the quarter.<\/li><li>But growth of Pepsi\u2019s North American beverage unit moderated during the quarter.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.cnbc.com\/quotes\/PEP\" target=\"_blank\" rel=\"noreferrer noopener\">PepsiCo<\/a>&nbsp;on Tuesday raised its full-year forecast after its quarterly&nbsp;earnings&nbsp;and revenue topped analysts\u2019 expectations, despite higher costs and snarls in the supply chain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pepsi shares rose less than 1% in premarket trading.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Executives said supply chain disruptions and inflationary pressure for labor, commodities and transportation weighed on its fiscal third-quarter results.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Earnings&nbsp;per share: $1.79&nbsp;adjusted vs. $1.73 expected<\/li><li>Revenue: $20.19 billion vs. $19.39 billion expected<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For the quarter ended Sept. 4, net income fell to $2.22 billion, or $1.60 per share, from $2.29 billion, or $1.65 per share, a year earlier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Excluding items, the food and beverage giant earned $1.79 per share, topping the $1.73 per share expected by analysts surveyed by Refinitiv.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net sales<strong>&nbsp;<\/strong>rose 11.6% to $20.19 billion, beating expectations of $19.39 billion. The company\u2019s organic revenue, which strips out the impact of acquisitions and divestitures, climbed 9% in the quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pepsi\u2019s North American beverage business reported organic revenue growth of 7% for the quarter. While the unit\u2019s organic sales have risen 10% on a two-year basis, growth has moderated since bouncing back 21% in the prior quarter. The company said that it saw double-digit net revenue growth for its food service business, which includes sales to restaurants, stadiums and college campuses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Frito-Lay saw its organic revenue increase by 5% as consumers maintained many of their pandemic snacking habits. Pepsi said that it gained market share in the salty and savory snack categories during the quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Quaker Foods North America, which has been the most challenged of Pepsi\u2019s business units, saw its organic revenue increase by 1%. It was the only segment to report shrinking volume, which excludes the impact of price changes, and reported the largest drop in operating profit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For the full year, Pepsi said it expects its organic revenue to increase by 8%, up from its prior forecast of 6% growth. The company reiterated its forecast for core constant currency earnings per share of 11% growth. Analysts were forecasting full-year earnings growth of 13% and a revenue increase of 9.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Remember, Pepsi didnt tell their employees they &#8221; were too white&#8221; like Coke did everything woke turns to S&amp;^T Pepsi earnings top estimates despite higher supply chain costs, company raises revenue forecast PUBLISHED TUE, OCT 5 20216:08 AM EDTUPDATED 2 HOURS AGOAmelia Lucas@THXAMELIANSHAREShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailKEY [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2446","post","type-post","status-publish","format-standard","hentry","category-daily-news"],"_links":{"self":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2446"}],"version-history":[{"count":3,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2446\/revisions"}],"predecessor-version":[{"id":2449,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2446\/revisions\/2449"}],"wp:attachment":[{"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}