Earnings Preview: PepsiCo

Global beverage and snack company PepsiCo PEP is set to release its quarterly earnings results on Wednesday prior to the opening bell. Heading into the report, Wall Street analysts have consensus earnings per share estimates of $1.16. This compares to the $1.31 that PepsiCo reported in last year's corresponding quarter. The high earnings estimate is $1.19 with a low estimate of $1.14. Revenues for the period are expected to be $16.90 billion, representing a 3.90 percent decline versus last year. The low revenue estimate is $16.59 billion with a high estimate of $17.22 billion. Over the last three months, earnings estimates for PepsiCo have fallen by four cents from $1.20. Over this time period, the stock has remained flat. Year-to-date, PEP is up a little better than 6 percent. On Tuesday ahead of the key earnings report, shares were up around 0.10 percent to $70.41.