PepsiCo, Inc. (NYSE:PEP) early Tuesday posted market-beating fourth quarter earnings results and offered a solid outlook for 2018, as it continues to deal with a quickly evolving soft drink landscape.
The Purchase, NY-based beverage and snack food giant reported Q4 earnings per share (EPS) of $1.31, which was $0.01 better than the Wall Street consensus estimate of $1.30.
Revenues rose 0.1% from last year to $19.53 billion, also edging out analysts’ view for $19.4 billion. PepsiCo also noted that organic revenues were up 2.3% in the latest period.
Looking ahead, PEP forecast full-year 2018 EPS of $5.70, which is slightly ahead of the $5.67 per share that analysts are looking for. It also expects full-year organic revenue growth to be “at least in line” with its 2017 growth rate.
The company commented via press release:
“We are pleased with our performance for the fourth quarter and full year 2017. We met or exceeded most of the financial goals we set out at the beginning of the year. We delivered these results in the midst of a dynamic retail environment and rapidly shifting consumer landscape,” said Chairman and CEO Indra Nooyi.
PepsiCo, Inc. shares were unchanged in premarket trading Tuesday. Year-to-date, PEP has declined -6.66%, versus a -0.57% rise in the benchmark S&P 500 index during the same period.