PepsiCo Q2 preview: Will earnings continue to outperform expectations?
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PepsiCo (NASDAQ:PEP) is scheduled to announce Q2 earnings results on Tuesday, July 12th, before market open.
The consensus EPS Estimate is $1.74 (+1.2% Y/Y) and the consensus Revenue Estimate is $19.51B (+1.5% Y/Y).
PepsiCo topped Q1 earnings estimates, led by a 13.7% rise in organic sales- up 22% in Latin America and 18% in the Africa, Middle East and South Asia region.

However, the F&B giant posted mixed guidance for the full year with full-year organic revenue to increase 8% vs. +6% prior view and +6.5% consensus.
Recent signs have pointed to robust sales for PEPâs key product. Beverage sales data compiled by Evercore ISI revealed the non-alcoholic beverage category remained strong into the close of June.
In the weeks prior to its earnings release, Stifel suggested the company could be keen to acquire smaller beverage players, building upon its acquisitive track record that has included purchases like Sodastream and Rockstar Energy in recent years.
PepsiCo (PEP) is likely to push past earnings estimates for Q2 according to Morgan Stanley, with the the market expected to react favorably to a "solid topline and EPS beat, along with a reiteration of FY guidance".
Beverage stocks have outperformed the broad market in 2022 with the soda category and energy drink category seeing much stronger growth than the beer and spirits categories.
Over the last 2 years, PEP has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 15 downward. Revenue estimates have seen 10 upward revisions and 1 downward.