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PepsiCo Beats Q4 Top and Bottom Line Estimates; Initiates FY23 Outlook

Seeking Alpha2023-02-09

  • Pepsi Co(NASDAQ:PEP) Q4 Non-GAAP EPS of $1.67 beats by $0.02.
  • Revenue of $28B (+10.9% Y/Y)beats by $1.18B.
  • "Moving forward, we will continue to focus on driving growth and winning in the marketplace while developing advantaged capabilities to fortify our businesses for the long term. This includes embedding pep+ at the center of our business in how we innovate, operate, run our teams, and build our brands.
  • For 2023, we expect to deliver 6 percent organic revenue growth and 8 percent core constant currency earnings per share growth. We also announced a 10 percent increase in our annualized dividend, starting with our June 2023 payment which represents our 51st consecutive annual increase, and plan to repurchase approximately $1.0 billion worth of shares."
  • Outlook: For FY2023, the company expects a 6% increase in organic revenue; core annual effective tax rate of 20%; Total cash returns to shareholders of approximately $7.7B, comprised of dividends of $6.7B and share repurchases of $1.0B; core earnings per share of $7.20 vs. consensus of $7.30.

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