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Soft drink giant PepsiCo (PEP) will get its turn to impress Wall Street in the morning when it reports its third quarter earnings numbers.
The last time that the company reported earnings was back on July 22 when it outpaced analyst estimates by 2 pennies with a reported $1.02 per share for its second quarter.
Going into tomorrow’s report analysts are looking for the company to show earnings of $1.02 per share. Should the company beat analyst estimates, it would mark the fourth straight quarter that the company was able to surprise to the upside.
PepsiCo recently announced a major $7.8 billion deal to acquire 2 of its main bottlers in an attempt to cut costs, and get new products to the market quicker.CEO Indra Nooyi stated that the deal is a major step to helping the company compete in a market where soda sales are falling.
The company has been facing a tougher market, as more consumers are drifting away from soft drinks and replacing them with healthier drinks such as juices and teas. One thing that has helped PepsiCo deal with the drop in soda sales has been its successful Frito-Lay food line.
Analyst take: Michael Branca, an analyst with Barclays Capital recently boosted his forecast for the quarter to $1.03, stating that he believes Frito-Lays sales will help offset falling soda sales.
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