PEP - Pepsi Q3 Earnings Preview: Will Beverage Giant See Shares Lose More Weight In 2023? | Benzinga
PepsiCo (NASDAQ: PEP) is among the food and beverage stocks that could see declining sales and momentum lost from investors due to new weight loss drugs.
Here’s a look at where the soft drink and snack giant stands ahead of its third-quarter (Q3) financial results.
Earnings Estimates: Pepsi is set to report Q3 financial results before the market opens on Tuesday, Oct. 10, 2023. Analysts expect the company to report Q3 revenue of $23.43 billion, according to data from Benzinga Pro.
The revenue estimate would mark an increase over the $21.97 billion reported in the third quarter of the last fiscal year. Pepsi has beaten analysts' estimates for revenue in the last nine straight quarters.
Earnings per share estimates from analysts see Pepsi reporting a profit of $2.15 per share for the third quarter. This would mark an increase from the $1.97 reported for the same time period last year.
Pepsi has beaten earnings per share estimates in the last nine straight quarters.
In its Q2 report, the company raised its full-year organic revenue growth outlook to 10%, from previous guidance of 8%.
Related Link: Snacks In The Ozempic Era: Food And Beverage Stocks Crash With Weight Loss Drugs