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the delicate drinks and snacks big, reported fourth-quarter adjusted earnings of $1.53 a share on income of $25.3 billion, each greater than analysts’ estimates, and the inventory was rising in premarket buying and selling Thursday.
PepsiCo (ticker: PEP) additionally boosted its annual dividend and introduced a brand new inventory buyback program of as much as $10 billion.
Analysts surveyed by FactSet had been anticipating earnings of $1.52 a share on income of $24.24 billion. A yr earlier, PepsiCo (ticker: PEP) earned $1.47 a share on income of $22.5 billion.
Natural income progress within the fourth quarter was 11.9%. For 2022, the corporate mentioned it expects natural income progress of 6%.
“Additionally, we expect to deliver 8% core constant currency earnings per share growth, which reflects the impact of inflationary pressures across our value chain and planned investments in our business,” the corporate mentioned in an announcement.
Pepsi mentioned it expects core earnings in 2022 of $6.67 a share, in contrast with Wall Avenue estimates of $6.73.
The corporate raised its annual dividend 7% to $4.60 a share, up from $4.30, and Pepsi’s board licensed a buyback of as much as $10 billion of inventory by way of February 2026.
The inventory rose 1.5% to $174.50 in premarket buying and selling Thursday.
At Frito-Lay North America, working revenue within the fourth quarter rose 10% and income rose 13% from a yr earlier to about $6.2 billion, greater than forecasts. PepsiCo Drinks North America working revenue fell 10% on income of $7.64 billion, up 13%.
Write to Joe Woelfel at [email protected]