PepsiCo fully recovered from the crisis in the 3rd quarter

News

PepsiCo fully recovered from the crisis in the 3rd quarter

06.10.2020 News

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.

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