Vending

PepsiCo boosts Q3 revenue and earnings

Logo provided.

October 6, 2021

PepsiCo Inc. reported revenue and earnings gains for the quarter ending Sept. 4, 2021 over the previous year's third quarter, according to an earnings release.

Net revenue rose 11.6% from $18.1 billion in Q3 2020 to $20.2 billion for the quarter ending Sept. 4, 2021.

Net income rose from $5.3 billion to $6.3 billion in the comparative quarters, while net income per common share fell 3% from $1.65 to $1.60.

"We are pleased with our results for the third quarter as we delivered very strong net revenue growth while carefully navigating a dynamic and volatile supply chain and cost environment," Chairman and CEO Ramon Laguarta said in a prepared statement. "Given our year-to-date performance, we now expect our full-year organic revenue to increase approximately 8% and core constant currency earnings per share to increase at least 11%."

All product divisions boosted revenue.

Frito Lay North America net revenue rose from $4.4 billion in Q3 2020 to $4.65 billion for the recent quarter.

Quaker Foods North America revenue rose from $608 million to $618 million, while Pepsico Beverages North America revenue rose from $5.95 billion to $6.4 billion.

Shares traded at $151.09 Tuesday against a 52-week range of $128.32-$159.63.