Consumer demand for snacks and beverages during the pandemic is paying off Pepsi (Political public figure), because the company reported a 20.5% increase in net sales for the second quarter.
Net income was US$2.36 billion, or earnings per share of US$1.70, higher than the US$1.65 billion in the same period last year, or earnings per share of US$1.18. Revenue was 19.2 billion U.S. dollars.
Pepsi sees its strong earnings Drink Business volume increased by 15%. This is because the sales of restaurants, stadiums and university campuses doubled in the quarter-this part fell 7% in the same period last year. NBC Finance Channel Report.
The company’s Frito-Lay North American business unit’s organic revenue increased by 6%, while Quaker Food North America’s organic revenue fell by 14%. CNBC stated that Pepsi said the loss of ingredients, freight and labor costs are higher.
At the same time, Pepsi-Cola updated its full-year guidance, saying that it now expects organic revenue to grow by 6% in fiscal 2021 and core fixed currency earnings per share to grow by 11%. The company previously set guidance for single-digit growth in the medium term.
Ramon Lagualta, Chairman and CEO of PepsiCo, said in a statement: “Looking forward, we will continue to focus on winning in the market and building a competitive advantage, which will make us and consumers get used to and preferences. Evolve over time.”
Coke Earnings for the first quarter were announced on April 19, and net income increased by 5% to US$9 billion. Organic revenue increased by 6%, and earnings per share fell by 19% to $0.52.
As of 1:28 pm Eastern Time on Tuesday, PepsiCo’s stock price was $153.04, up $3.53 or 2.36%.
Photo: Reuters
