The
company said revenue from its North America Beverage unit, its
largest business, rose 7% in the third quarter on a double-digit
increase in net revenue from food-service joints and strong
demand for its Mountain Dew soft drink.
Revenue from the company's Frito-Lay North America business also
rose about 6% in the quarter, signaling that pandemic driven
demand for salty and savory snacks was still holding strong
despite people starting to spend less time at home.
However, PepsiCo's net attributable income fell about 3% to
$2.22 billion, due in part to higher distribution costs as it
grappled with rising raw material prices and global supply
chains disruptions, which have pressured profit margins at
packaged food companies this year.
Net revenue rose 11.6% to $20.19 billion in the quarter ended
Sept. 4, above analysts' estimates of $19.39 billion, according
to IBES data from Refinitiv.
The company said it was expecting fiscal 2021 organic revenue to
rise about 8%, compared with its prior forecast of a 6%
increase. https://bit.ly/3lbvOTj
Shares of PepsiCo, which in August announced a $3.3 billion deal
to offload Tropicana and other juice brands in North America,
were little changed in premarket trading.
(Reporting by Uday Sampath in Bengaluru; Editing by Anil D'Silva)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
![](column_spacer.png)
|
|