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Dipanjan Banchur

1 Beverage Stock You Should Be Thirsty for in Q4

PEP Dipanjan BanchurSince PepsiCo Inc Recession

Despite facing inflationary pressures, global food and beverage giant PepsiCo, Inc. (PEP) reported better-than-expected third-quarter 2022 results. Core EPS of $1.97 beat the consensus estimate by 6.7%, while its revenue came in at $21.97 billion, surpassing the consensus estimate by 5.5%.

After reporting better-than-expected results, PEP’s Chairman and CEO Ramon Laguarta said, “We are very pleased with our results for the third quarter as our global business momentum remains strong. Given our year-to-date performance, we now expect our full-year organic revenue to increase 12 percent (previously 10 percent) and core constant currency earnings per share to increase 10 percent (previously 8 percent).”

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