PepsiCo – Guidance Raised For The Full Year

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PepsiCo – Guidance Raised For The Full Year
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PepsiCo, Inc. (NASDAQ:PEP) has reported organic revenue growth of 13% to $19.2bn, with underlying operating profit up 22% to $3.2bn. This reflects strong performances from all divisions apart from Quaker Foods North America, and there was particularly strong growth in PepsiCo Beverages North America.

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Q2 2021 hedge fund letters, conferences and more

PepsiCo Expects FY Organic Revenue Growth Of 6%

Management has increased guidance. They now expect full year organic revenue growth of 6%, compared to mid-single-digits, and an 11% increase in underlying earnings per share, compared to high single digits.  The group still plans to return roughly $5.9bn to shareholders, through dividend payments of $5.8bn and share repurchases of $106m, which are already completed.

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The shares rose 1.7% in pre-market trading.

“Pepsi's had enough fizz in the second quarter to raise guidance for the full year. The confidence reflects normalising sales trends in many markets, although that’s not necessarily a positive trend for all parts of the business.

Quaker Foods North America did a roaring trade early on in the pandemic as people spent more time at home and health was at the forefront of everyone’s mind, but this demand appears to be going flat. The big losers were oatmeal, pancake syrup and mix, and ready-to-eat cereal, perhaps reflecting more commuters getting breakfast on-the-go once more instead of eating at home. On the other hand, Cheetos macaroni and cheese got a special mention after being introduced last year, so some consumers still want to indulge in old favourites even if the branding is new.

Overall, Pepsi is looking like it’s still offering some refreshing recovery signs. However, the next couple of quarters could still see some surprises bubbling up as sales trends adapt to normal life again.”

Article by William Ryder, Equity Analyst at Hargreaves Lansdown


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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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