Before the opening bell on Wednesday, beverage company PepsiCo (PEP ) reported lower results for the fourth quarter, but beat analysts’ expectations.
PEP's Earnings in Brief
- PEP reported earnings of $1.31 billion, or 87 cents per share, down 25% from $1.74 billion, or $1.12 per share, last year.
- Excluding special items, earnings were $1.12 per share – above analysts’ view of $1.08 per share.
- Revenue dipped to $19.948 billion from $20.12 billion last year. Analysts expected to see revenue of $19.66 billion.
- Looking ahead, PEP expects earnings to grow 7% in FY2015. Analysts expect to see EPS of $4.75.
Chairman and CEO Indra Nooyi commented: “As we look ahead to 2015, we expect to again deliver results consistent with our long-term financial objectives, despite the anticipated challenging and volatile global macro environment…we plan to return approximately $8.5 to $9 billion to shareholders through both higher dividends and share repurchases.”
PepsiCo announced that it has boosted its dividend by 7.3% to $2.81 per share annually. This is expected to take effect in June.
Shares of PEP were up $1.61, or 1.64% during premarket trading Wednesday. The stock is up 3.63% YTD.