PepsiCo’s Thursday earnings face lowered estimates and market-share concerns
PepsiCo’s scheduled results come as analysts cut profit estimates and investors weigh pressure on snacks, beverages and costs.
Key takeaways
- PepsiCo reports Thursday after promising a stronger second half of the year.
- Evercore ISI and JPMorgan cut profit estimates ahead of the results.
PepsiCo’s Thursday earnings report will test its promise of a stronger second half, as analysts have lowered profit estimates and concerns persist about its snacks and beverages businesses.
Coca-Cola shares were up 23% this year through the article’s publication, while PepsiCo’s had fallen 13% and were near a 52-week low. As of 18:33 UTC on Oct. 5, Coca-Cola traded at $86.36, up 0.82% since the previous close; PepsiCo was at $125.45, down 0.35%.
PepsiCo has said price cuts will help snacks results and cost reductions will lift profits. Evercore ISI analyst Robert Ottenstein cited beverage market-share losses and weak trends in PepsiCo’s North American foods business as investor concerns. Evercore ISI and JPMorgan have cut their profit estimates ahead of the report.
This article was produced with the help of AI technology. Source: Yahoo Finance
