PepsiCo (NASDAQ:PEP) revealed a promising Q3 earnings report, posting an EPS of $2.25, which is $0.10 above the Street estimate of $2.15. The revenue for the quarter was $23.45 billion, slightly surpassing the Street estimate of $23.43 billion. This revenue represents a notable 6.7% annual jump, propelled partly by an 11% increase in effective net pricing, influenced by varied pricing actions, sales incentives, and the assortment derived from selling products in diverse package sizes across different countries. However, the organic volumes dipped by 2.5%.
Looking ahead, PepsiCo has adjusted its guidance for fiscal 2023, now expecting an EPS of $7.54, compared to the previously projected $7.47 and the Street estimate of $7.49. The company anticipates 10% organic revenue growth moving forward.