PepsiCo 3Q Revenue Rises, Profit Falls

By Dave Sebastian

PepsiCo Inc. said its revenue rose for the recent quarter, though profit fell, while it navigates a volatile supply-chain and cost environment.

The food-and-beverage company on Tuesday posted net income attributable to the company of $2.22 billion for the fiscal third quarter, compared with $2.29 billion in the same period last year. Earnings were $1.60 a share, compared with $1.65 a share in the prior year.

Adjusted earnings were $1.79 a share. Analysts polled by FactSet were expecting $1.73 a share.

For the quarter ended Sept. 4, net revenue rose to $20.19 billion from $18.09 billion. Analysts were looking for $19.39 billion.

Revenue for the North America beverage segment rose to $6.4 billion from $5.96 billion. Frito-Lay North America revenue rose to $4.65 billion from $4.4 billion. Quaker Foods North America revenue rose to $618 million from $608 million.

Selling, general and administrative expenses rose to $7.64 billion from $6.92 billion.

Write to Dave Sebastian at [e-mail]

(END) Dow Jones Newswires

October 05, 2021 06:36 ET (10:36 GMT)

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