Despite facing inflationary pressures, global food and beverage giant PepsiCo, Inc. (PEP) reported better-than-expected second-quarter 2022 results. Core EPS of $1.86 beat the consensus estimate by 7.1%, while its revenue came in at $20.23 billion, surpassing the consensus estimate by 3.7%.
However, PEP’s margins took a hit due to the higher freight and commodity costs. PEP’s Chief Financial Officer Hugh Johnston said, “We are facing inflation like everyone else, and we think that is going to persist for a while, but we are taking enough pricing to be able to manage the inflation, and our focus is really much more on how do we drive costs out of the business.”
