PepsiCo, Inc. (PEP - Free Report) is one of the largest food and beverage business in North America and the second largest in the world. The company boasts a diverse portfolio, both geographically and product wise. Its principal brands/businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The company has the competitive advantage of selling both snacks and beverages which are complementary food categories.

However, growing health and wellness consciousness is hurting carbonated soft drinks or CSD category growth.

Investors should note that the earnings estimate for PEP have moved south over the past 30 days for the current year. That said, PEP has an impressive track record in the earnings season. It has delivered positive earnings surprises in all the past four quarters, bringing the average to a positive surprise of 4.57%.

Pepsico, Inc. Price and EPS Surprise

Pepsico, Inc. Price and EPS Surprise | Pepsico, Inc. Quote

Currently, PEP has a Zacks Rank #3 (Hold), but that could definitely change following Pepsi’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: PEP beat earnings. Our consensus earnings estimate called for EPS of $1.40/share, and the company reported core EPS of $1.50/share.

Revenues: PEP reported revenues of $15.71 billion. This surpassed our consensus estimate of $15.64 billion.

Key Stats to Note: Revenues increased 3.1% on an organic basis, higher than 2.1% in the previous quarter.

Stock Price: Shares rose 1.51% in pre-market trading at the time of writing.