PepsiCo tops consensus in Q2, raises organic revenue forecast and reaffirms EPS outlook for FY2022
PepsiCo press release (NASDAQ:PEP): Q2 Non-GAAP EPS of $1.86  beats by $0.12.
Revenue of $20.23B (+5.3% Y/Y)  beats by $720M.
âOur results are indicative of our highly dedicated employees, the strength and resilience of our categories, agile supply chain and go-to-market systems and strong marketplace execution. Our performance also gives us confidence that our investments to become an even Faster, even Stronger, and even Better organization by winning with pep+ are working. Given our year-to-date performance, we now expect our full-year organic revenue to increase 10 percent (previously 8 percent) and we continue to expect core constant currency earnings per share to increase 8 percent.â

For FY2022, the company expects a 10% increase in organic revenue vs. prior outlook growth of 8%; core annual effective tax rate of 20%; Total cash returns to shareholders of approximately $7.7B, comprised of dividends of $6.2B and share repurchases of $1.5B; core earnings per share of $6.63 vs. consensus of $6.66.