PepsiCo (PEP) Reports Q2 Earnings: What Key Metrics Have to Say
PepsiCo (PEP) reported $22.5 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 0.8%. EPS of $2.28 for the same period compares to $2.09 a year ago.
The reported revenue represents a surprise of -0.25% over the Zacks Consensus Estimate of $22.56 billion. With the consensus EPS estimate being $2.15, the EPS surprise was +6.05%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $1.10 billion versus the three-analyst average estimate of $1.12 billion. The reported number represents a year-over-year change of -2.1%.
Net revenue- Frito-Lay North America: $5.87 billion versus $5.91 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.5% change.
Net revenue- Quaker Foods North America: $561 million compared to the $567.44 million average estimate based on three analysts. The reported number represents a change of -18% year over year.
Net revenue- Africa, Middle East and South Asia: $1.59 billion versus the three-analyst average estimate of $1.54 billion. The reported number represents a year-over-year change of +1.5%.
Net revenue- PepsiCo Beverages North America: $6.81 billion compared to the $6.83 billion average estimate based on three analysts. The reported number represents a change of +0.8% year over year.
Net revenue- Europe: $3.52 billion compared to the $3.48 billion average estimate based on three analysts. The reported number represents a change of +2.5% year over year.
Net revenue- Latin America: $3.05 billion compared to the $3.13 billion average estimate based on three analysts. The reported number represents a change of +6.6% year over year.
Operating income (Non-GAAP)- Asia Pacific, Australia and New Zealand and China Region: $227 million versus $222.23 million estimated by three analysts on average.
Operating income (Non-GAAP)- Frito-Lay North America: $1.61 billion versus the three-analyst average estimate of $1.65 billion.
Operating income (Non-GAAP)- Latin America: $653 million versus $679.21 million estimated by three analysts on average.
Operating income (Non-GAAP)- Corporate unallocated: -$339 million versus -$377.04 million estimated by three analysts on average.
Operating income (Non-GAAP)- Africa, Middle East and South Asia: $244 million compared to the $246.05 million average estimate based on three analysts.
View all Key Company Metrics for PepsiCo here>>>
Shares of PepsiCo have returned -0.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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