PepsiCo Reports Net Revenue of $22 Billion

PepsiCo reported net revenue of USD 22 billion for the third quarter of 2022. PepsiCo, one of the world's largest food and beverage companies, announced its third quarter 2022 results. The company continued to deliver strong operational results in the third quarter of 2022, maintaining momentum in its growth. PepsiCo reported net revenue of USD 22 billion in the third quarter, exceeding the consensus estimate of USD 20.8 billion for net revenue. The company thus surpassed the projected 10% consensus, achieving 16% organic revenue growth year-over-year, marking four consecutive quarters of double-digit organic revenue growth. Earnings per share came in at USD 1.97, exceeding the consensus of USD 1.84. Supported by strong net revenue growth and comprehensive cost management initiatives, core operating profit increased 11%, with core operating margin expanding by 30 basis points. By tightly managing discretionary spending, strengthening net revenue management capabilities, and leveraging its scale and infrastructure capabilities to mitigate inflationary pressures, the company increased core constant currency earnings per share by 14%. PepsiCo's results demonstrate how well its continuously evolving and diversified portfolio to meet consumer preferences, broad geographic footprint, and growing categories are performing, pointing to increasing momentum. PepsiCo's success reflects the company's continuous adaptation to changing consumer and societal preferences and the positive product choices it offers. Operating with this strategy, each of the company's international divisions delivered organic revenue growth, led by Latin America.

Latin America recorded double-digit organic revenue growth in both beverages and food

Mexico, Brazil, Colombia, Chile and Argentina operations each delivered double-digit organic revenue growth. Outside Latin America, other emerging markets including China, South Africa, India, Egypt, Saudi Arabia, Pakistan, Vietnam and Poland, as well as most of PepsiCo's emerging markets, continued to remain resilient, each delivering double-digit organic revenue growth. Developed markets also performed well, posting high single-digit organic revenue growth in the quarter, alongside the United Kingdom, France and Spain, which achieved double-digit organic revenue growth, and Australia, which delivered mid-single-digit organic revenue growth. Continuing to focus on succeeding and winning in markets, PepsiCo has gained share in the salty snacks market year-to-date in Turkey, Brazil, China, United Kingdom, India, Pakistan, Saudi Arabia, Spain, Netherlands, Thailand, Australia and Chile. In Mexico, Brazil, Australia, China, India, Egypt, Pakistan, Saudi Arabia, Vietnam and Iraq, it increased its share in the beverage category.