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Sep 03, 2022
PepsiCo Q3 2022 Earnings Report
PepsiCo's Q3 2022 results were reported, demonstrating strong global business momentum and leading to an increased full-year guidance.
Key Takeaways
PepsiCo reported strong Q3 2022 results with organic revenue growth of 16.0%. The company raised its full-year organic revenue growth expectation to 12% and core constant currency EPS growth to 10%.
Global business momentum remains strong.
Full-year organic revenue is now expected to increase 12 percent.
Core constant currency earnings per share are now expected to increase 10 percent.
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Forward Guidance
For fiscal year 2022, the Company now expects to deliver 12 percent organic revenue growth (previously 10 percent), and 10 percent core constant currency EPS growth (previously 8 percent).
Positive Outlook
- Core annual effective tax rate of 20 percent.
- Total cash returns to shareholders of approximately $7.7 billion, comprised of dividends of $6.2 billion and share repurchases of $1.5 billion.
- Approximate 2.5-percentage-point foreign exchange translation headwind to impact reported net revenue and core EPS growth based on current market consensus rates.
- Implies 2022 core EPS of approximately $6.73 (previously $6.63).
- Approximately 7.5 percent increase compared to 2021 core EPS of $6.26.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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