On Monday, PepsiCo announced its second fiscal quarter which ended on June 30. The results exceeded Wall Street expectations but were mixed. On the one hand, sales of food and snacks increased as consumers bought snacks for breakfast and home-made goods. On the other hand, sales of beverages decreased because large sales channels such as cafes, cinemas and gas stations suffered huge losses for most of the quarter.<\/p>\n
In the second quarter, PepsiCo\u2019s earnings per share fell 14% (compared to last year) to $1.32, but this is $ 0.07 higher than the analytical estimate of $1.25. Net income fell 20% to $1.65 billion driven by higher costs, including more than $400 million coronavirus pandemic costs.<\/p>\n
PepsiCo’s 2nd quarter total revenue fell 3% to $15.95 billion but was also above the average analytical estimate of $15.34 billion.<\/p>\n
Revenues from North America’s largest beverage division fell 7% as restaurants and other outlets remained closed and sporting events were postponed.<\/p>\n
Among the snack segment, strong growth was shown not only by well-known brands of the company but also by new lines of healthy snacks such as the line of fruit chips Bare and Off The Eaten Path, as well as chips from black beans and chickpeas.<\/p>\n
PepsiCo also noted that it\u2019s finishing its merger with the energy drink maker Rockstar. The company plans to expand Rockstar distribution nationwide.<\/p>\n
Due to the complexity of planning in an unstable environment during the pandemic, PepsiCo did not provide forecasts for the year but noted that trends and dynamics of many sales channels improved in May and June in both developed and emerging markets.<\/p>\n
The company said it is going to pay $5.5 billion in dividends this year and buy back $2 billion in shares.<\/p>\n","protected":false},"featured_media":121702,"menu_order":0,"template":"","newscat":[9],"newstag":[26875,26360,26818,25782,26816,24933,24936,26817,26819],"issues":[],"class_list":["post-121701","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti","newstag-bare-chips","newstag-coronavirus-pandemic","newstag-off-the-eaten-path","newstag-pepsico","newstag-rockstar","newstag-pandemyya-koronavyrusa","newstag-pandemiya-koronavirusu","newstag-chyps-bare","newstag-chipsy-bare"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/121701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/121702"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=121701"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=121701"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=121701"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=121701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}