PepsiCo Is Sailing on Its Snacks Distribution Strength
PepsiCo (NASDAQ: PEP) snapped back from a 3% year-over-year revenue decline in the second quarter of 2020 to an emphatic 5.3% expansion in its top line during the third quarter, as results released Thursday showed.
After adjusting for foreign currency translation and the effects of acquisitions and dispositions, organic revenue improved by 4.3%, bringing total year-to-date organic growth to 3.6% against the comparable period. Net income advanced by 9% against Q3 2019, to $2.3 billion, while diluted earnings per share rose 11%, to $1.65. Below, let's review the key details from the quarter, and touch on guidance, which PepsiCo reinstated in today's report after a brief hiatus.
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Source Fool.com
