PepsiCo Q2 Earnings Beat Estimates, Revenue Falls Short

PepsiCo (NASDAQ:PEP) reported Q2 EPS that exceeded analyst expectations, although revenue fell slightly short of forecasts.

The company posted Q2 EPS of $2.28, beating the projected $2.16. Revenue for the quarter came in at $22.5 billion, just below the Street estimate of $22.66 billion.

Frito-Lay North America segment saw revenue of $5.87 billion, missing the $5.94 billion estimate. Quaker Foods North America reported $561 million in revenue, down 18% year-over-year, below the forecasted $588.2 million. PepsiCo Beverages North America generated $6.81 billion in revenue, slightly up from $6.76 billion the previous year, but still short of the $6.86 billion estimate.

For the full 2024-year, PepsiCo projects an EPS of $8.15, aligning with the Street estimate of $8.13, and expects revenue of $94.31 billion, surpassing the consensus estimate of $91.06 billion.

The company also revised its forecast for organic revenue growth to approximately 4%, compared to the previous forecast of “at least 4%.” Analysts had anticipated 3.91% growth.