• Pepsi North America Beverages YTD net sales rise by 2.3% to US$14.77bn
  • Operating profits in nine months to 5 September jump by 15.7% to $2.15bn
  • Third-quarter sales for North America Beverages unit up by 4.1% to $5.36bn
  • Group YTD operating profits fall by 19% to $6.11bn
  • Total sales rise in organic terms by 7.4%, but slip by 4.8% in reported terms, to $44.47bn
  • Full-year EPS growth forecast at hitting 9%
     
PepsiCo has lifted its full-year EPS guidance after releasing YTD results today

PepsiCo has lifted its full-year EPS guidance after releasing YTD results today

PepsiCo has upped its full-year EPS forecast, after reporting a lift in both group and North America Beverages sales in the first nine months of its fiscal year.

The drinks and snacks company said earlier today that its Pepsi North America Beverages (NAB) division saw sales in the nine months to 5 September increase by 2.3%, an improvement on the 1% lift in the company's half-year, as reported in July. In organic terms, PepsiCo's total sales in the year-to-date were up by almost 7.5%.

On NAB, the company said the year-to-date has been "positively impacted by productivity gains and lower commodity costs, partially offset by operating cost inflation, higher advertising and marketing expense". The unit has also been cycling "favourable settlements of promotional spending accruals in the prior year".

"Based on our year-to-date results and our outlook for the remainder of the year, we are increasing our full-year core constant currency EPS growth target to 9%," said chairman and CEO Indra Nooyi. Three months ago, PepsiCo said it was targetting an 8% increase.

Last month, the company recruited the former senior VP for mobile & digital at Walmart as it looks to raise its digital focus.

To read PepsiCo's full press release, click here.