Founded in 1898, New York-based PepsiCo, Inc. (PEP) spans the globe with its diverse portfolio of beverages and convenient foods. With a robust market cap of $226.7 billion, the beverage giant is expected to announce its fiscal Q2 earnings before the market opens on Thursday, July 11.
Ahead of the event, analysts expect PepsiCo to report a profit of $2.16 per share, a 3.4% jump from $2.09 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s bottom-line estimates in its recent quarterly reports. Its adjusted earnings of $1.61 per share for the last reported quarter surged 7.3% year over year, beating the consensus estimate by 5.9%. This surge was driven by strong international demand for PepsiCo’s snacks and beverages, with significant sales growth in Asia Pacific and Europe, coupled with strategic price increases despite some volume decline and a challenging domestic market.
