PEP - Beverage Giant PepsiCo Beats On Q3 Earnings Raises FY23 EPS Outlook Again | Benzinga
PepsiCo Inc (NASDAQ: PEP) reported third-quarter FY23 sales growth of 6.7% year-on-year to $23.45 billion, beating the analyst consensus estimate of $23.43 billion.
Net revenue from Frito-Lay North America increased 7% Y/Y, Quaker Foods North America rose 5%, and PepsiCo Beverages North America climbed 8%.
Latin America sales jumped 21% Y/Y, and Europe sales scaled 2%.
Gross profit increased 9.5% Y/Y to $12.7 billion, and the margin expanded 140 basis points Y/Y to 54.5%.
Operating margin expanded by 186 basis points to 17.1%, and operating income for the quarter increased 19.7% ...