PepsiCo 2Q Profit Rises on North American Beverage Sales
July 13 2021 - 6:34AM
Dow Jones News
By Dave Sebastian
PepsiCo Inc. said its profit rose for the recent quarter, driven
by its beverage sales in North America.
The food-and-beverage company on Tuesday posted net income
attributable to the company of $2.36 billion for the fiscal second
quarter, compared with $1.65 billion in the prior year. Earnings
were $1.70 a share, compared with $1.18 a share in the year-ago
period
Adjusted earnings were $1.72 a share, the company said. Analysts
polled by FactSet had been expecting $1.53 a share.
For the quarter ended June 12, net revenue rose to $19.22
billion from $15.95 billion, the company said. Analysts were
looking for $17.96 billion. Revenue grew nearly 13% on an organic
basis.
Revenue for the North America beverage segment rose to $6.16
billion from $4.97 billion, Frito-Lay North America rose to $4.55
billion from $4.27 billion, and Quaker Foods North America revenue
fell to $575 million from $664 million, and its, the company
said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 13, 2021 06:30 ET (10:30 GMT)
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