The company PepsiCo announced the best results of its third quarter, which ended on September 5.
Shares of the PepsiCo have fully recovered after the falling in February and March due to the coronavirus pandemic and show the increase of 1.4% since the beginning of the year and 17.34% over the past 6 months.
Shares of the largest competitor PepsiCo – Coca-Cola, since the beginning of the year fell more sharply – by 10.8%, however, show almost the same growth over the last half of 17.2%.
The company reported earnings per share increase of 6% to $ 1.66 (compared to last year), which is $ 0.18 more than the average analyst`s estimate of $ 1.48. The previous quarter saw 14% of the decline, that PepsiCo explained by the loss of such large sales channels as cafes, cinemas and gas stations. Pepsi’s total quarterly revenue was $ 2.29 billion, up from $ 2.1 billion a year earlier.
The company’s management also noted the quarterly losses of $ 147 million in the costs associated with the pandemic, such as more expensive labor and the purchase of personal protective equipment.
Pepsi’s total revenue for the 3rd quarter grew by 5.3% to $ 18.09 billion, which is also higher than the analytical estimate of $ 17.21 billion. In the last second quarter, the company’s total revenue decreased by 3% compared to the last year.
By the end of this year, the German airline Lufthansa intends to reduce its foreign staff by 20 thousand people, as well as sell its LSG division, which deals with on-board catering, which employs 7.5 thousand people. Lufthansa subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines are reducing the frequency of flights, fleets and staff amid […]
Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]
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In the last week of October, investors expect a lot of news, as more than one-third of the components of the S&P 500 index, or 186 companies, must report financial results for the third quarter. The information field is even richer given the election race in the United States, the situation with the pandemic and […]
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