PepsiCo earnings: $1.49 per share, in line with estimates

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PepsiCo will report fourth-quarter earnings before the bell Friday.

Here’s what Wall Street is expecting, according to a survey of analysts by Refinitiv:

  • Earnings: $1.49 per share
  • Revenue: $19.52 billion

Shares of rival Coca-Cola fell Thursday after the company gave weaker-than-expected earnings outlook for 2019, citing headwinds from currency, Fed rate hikes and changing tax rates. PepsiCo is the more diversified company with its stable snack business, but its North American beverage business was struggling until it began spending more on marketing.

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PepsiCo doubled down on beverages with its $3.2 billion acquisition of SodaStream, the at-home sparkling drink maker. It closed the deal in December.

In September, it raised prices on drinks, which will be reflected in the sales numbers for the fourth quarter. Coke’s own midsummer price increases led North American unit case volume to drop 1 percent during its fourth quarter

The fourth quarter is Ramon Laguarta’s first as chief executive. He took the helm in October after Indra Nooyi stepped down.

This is breaking news. Please check back for updates.

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