PepsiCo (NASDAQ:PEP) trades higher after recording topping Q2 estimates and lifting its guidance.
The food and beverage giant recorded broad-based growth during the quarter with global snacks organic revenue up 6% and global beverages organic revenue up 21%.
PepsiCo Beverages North America stood out as organic revenue growth accelerated to 21% and core constant currency operating profit increased over 80%.
Core operating margin expanded 70 basis points during the second quarter, led by PepsiCo Beverages North America, which delivered more than 400 basis points of core operating margin expansion.
Looking ahead, PepsiCo expects to deliver a 6% organic revenue increase vs. prior guidance for mid-single-digit growth. The company also sees an 11% increase in core constant currency EPS vs. prior guidance for high-single-digit growth. PepsiCo guides for full-year EPS of $6.20 vs. $6.09 consensus. "Moving forward, we remain focused on winning in the marketplace and building competitive advantages that will position us well as consumer habits and preferences evolve over time," updates CEO Ramon Laguarta.
Shares of PepsiCo are up 1.90% premarket to $152.35. Coca-Cola (NYSE:KO) is 0.46% higher and Keurig Dr Pepper (NASDAQ:KDP) is up 0.25% after the PepsiCo earnings topper.