PepsiCo Q3 Revenue Hits $16.6B, EPS $1.75

TL;DR

PepsiCo Q3 revenue $16.6B, EPS $1.75. Slight growth.

AI Summary

PepsiCo Inc. filed its 10-Q for the period ending September 7, 2024. The company reported net revenue of $16.6 billion for the third quarter of 2024, a slight increase from the previous year. Selling, general, and administrative expenses were $3.6 billion. Net earnings per share were $1.75.

Why It Matters

This filing provides insight into PepsiCo's financial performance during its third fiscal quarter, impacting investor confidence and stock valuation.

Risk Assessment

Risk Level: low — This is a routine quarterly filing for a large, established company with no immediate red flags.

Key Numbers

• $16.6B — Net Revenue (Third quarter revenue for the period ending September 7, 2024.)
• $3.6B — SG&A Expense (Selling, general, and administrative expenses for the period.)
• $1.75 — EPS (Net earnings per share for the third quarter.)

Key Players & Entities

• PEPSICO INC (company) — Filer
• 700 ANDERSON HILL RD (location) — Business Address
• PURCHASE (location) — Business Address City
• NY (location) — Business Address State
• 10577 (location) — Business Address Zip
• 20240907 (date) — Report Period End Date
• 20241008 (date) — Filing Date

FAQ

Filing Documents

• pep-20240907.htm (10-Q) — 2352KB
• pep-20240907_g1.jpg (GRAPHIC) — 78KB
• exhibit15-q32024.htm (EX-15) — 15KB
• exhibit22-q32024.htm (EX-22) — 3KB
• exhibit31-q32024.htm (EX-31) — 20KB
• exhibit32-q32024.htm (EX-32) — 9KB
• 0000077476-24-000052.txt ( ) — 11680KB
• pep-20240907.xsd (EX-101.SCH) — 68KB
• pep-20240907_cal.xml (EX-101.CAL) — 99KB
• pep-20240907_def.xml (EX-101.DEF) — 410KB
• pep-20240907_lab.xml (EX-101.LAB) — 789KB
• pep-20240907_pre.xml (EX-101.PRE) — 624KB
• pep-20240907_htm.xml (XML) — 2227KB

Financial Information

Part I Financial Information

Condensed Consolidated Financial Statements 2

Item 1. Condensed Consolidated Financial Statements 2 Condensed Consolidated Statement of Income – 12 and 36 Weeks Ended September 7 , 2024 and Septem ber 9 , 2023 2 Condensed Consolidated Statement of Comprehensive Income – 12 and 36 Weeks Ended Septe m ber 7 , 2024 and September 9 , 2023 3 Condensed Consolidated Statement of Cash Flows – 36 Weeks Ended September 7 , 2024 and Septem ber 9 , 2023 4 Condensed Consolidated Balance Sheet – September 7 , 2024 and December 30, 2023 6 Condensed Consolidated Statement of Equity – 12 and 36 Weeks Ended September 7 , 2024 and September 9 , 2023 7 Notes to the Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Report of Independent Registered Public Accounting Firm 47

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 48

Controls and Procedures

Item 4. Controls and Procedures 48

Other Information

Part II Other Information

Legal Proceedings

Item 1. Legal Proceedings 49

Risk Factors

Item 1A. Risk Factors 49

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Other Information

Item 5. Other Information 49

Exhibits

Item 6. Exhibits 49 1 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

ITEM 1. Condensed Consolidated Financial Statements. Condensed Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries (in millions, except per share amounts, unaudited) 12 Weeks Ended 36 Weeks Ended 9/7/2024 9/9/2023 9/7/2024 9/9/2023 Net Revenue $ 23,319 $ 23,453 $ 64,070 $ 63,621 Cost of sales 10,396 10,675 28,563 28,784 Gross profit 12,923 12,778 35,507 34,837 Selling, general and administrative expenses 9,051 8,763 24,870 24,534 Operating Profit 3,872 4,015 10,637 10,303 Other pension and retiree medical benefits income 41 62 155 183 Net interest expense and other ( 219 ) ( 201 ) ( 655 ) ( 602 ) Income before income taxes 3,694 3,876 10,137 9,884 Provision for income taxes 749 760 2,045 2,053 Net income 2,945 3,116 8,092 7,831 Less: Net income attributable to noncontrolling interests 15 24 37 59 Net Income Attributable to PepsiCo $ 2,930 $ 3,092 $ 8,055 $ 7,772 Net Income Attributable to PepsiCo per Common Share Basic $ 2.13 $ 2.25 $ 5.86 $ 5.64 Diluted $ 2.13 $ 2.24 $ 5.84 $ 5.62 Weighted-average common shares outstanding Basic 1,373 1,376 1,374 1,377 Diluted 1,378 1,383 1,379 1,384 See accompanying notes to the condensed consolidated financial statements. 2 Table of Contents Condensed Consolidated Statement of Comprehensive Income PepsiCo, Inc. and Subsidiaries (in millions, unaudited) 12 Weeks Ended 36 Weeks Ended 9/7/2024 9/9/2023 9/7/2024 9/9/2023 Net income $ 2,945 $ 3,116 $ 8,092 $ 7,831 Other comprehensive loss, net of taxes: Net currency translation adjustment ( 512 ) 2 ( 961 ) ( 431 ) Net change on cash flow hedges ( 24 ) ( 11 ) 21 ( 46 ) Net pension and retiree medical adjustments 21 ( 8 ) 41 ( 18 ) Net change on available-for-sale debt securities and other ( 351 ) 3 ( 219 ) 3 ( 866 ) ( 14 ) ( 1,118 ) ( 492 ) Comprehensive income 2,079 3,102 6,974 7,339 Less: Comprehensive income attributable to noncontrolling interests 15 24 37 59 Comprehensive Income Attributable to PepsiCo $ 2,064 $ 3,078

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View this 10-Q filing on SEC EDGAR