PepsiCo surprised analysts by reporting this Thursday a net result of 2,29 billion dollars (about 2 billion euros) in the third quarter of this year, driven by the increase in the consumption of snacks by domestic consumers. In other words, in the quarantine, customers drank more Pepsi and ate more chips and other products in the group.
The North American company's revenues also increased - 5,3% year on year - to 18,09 billion dollars (approximately 15,41 billion euros), when the market signaled that it would be 17,23 billion euros. dollars (close to 14,68 billion euros).
Despite the reopening of the economy and the return to school, consumers remain more guarded and children and young people with online classes, which motivated the growth in sales of PepsiCo, whose shares are rising on the New York Stock Exchange.
“Both Frito-Lay and Quaker Foods continued to show robust growth, as domestic consumption trends remained strong, despite the phased reopening of savings and activities in certain areas, starting in May,” explained the CEO of PepsiCo, Ramon Laguarta, at report and accounts.
In fact, the Frito-Lay business (owner of the Lay's, Tostitos, Cheetos and Doritos potato chips brands) and Quaker (cereals, breakfast foods…) reported organic revenue growth of around 6%. The Purchase-based multinational further announced that it expects earnings per share of $ 5,50 in 2020, above the market forecast that pointed to $ 5,36.