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PepsiCo 2Q Profit Rises on North American Beverage Sales

By Dave Sebastian

 

PepsiCo Inc. said its profit rose for the recent quarter, driven by its beverage sales in North America.

The food-and-beverage company on Tuesday posted net income attributable to the company of $2.36 billion for the fiscal second quarter, compared with $1.65 billion in the prior year. Earnings were $1.70 a share, compared with $1.18 a share in the year-ago period

Adjusted earnings were $1.72 a share, the company said. Analysts polled by FactSet had been expecting $1.53 a share.

For the quarter ended June 12, net revenue rose to $19.22 billion from $15.95 billion, the company said. Analysts were looking for $17.96 billion. Revenue grew nearly 13% on an organic basis.

Revenue for the North America beverage segment rose to $6.16 billion from $4.97 billion, Frito-Lay North America rose to $4.55 billion from $4.27 billion, and Quaker Foods North America revenue fell to $575 million from $664 million, and its, the company said.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

July 13, 2021 06:30 ET (10:30 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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