Pepsico / Coca-Cola - Before the Bell

[EricL]

• PepsiCo press release (NASDAQ:PEP): Q4 Non-GAAP EPS of $1.53 [color=var(--teal-100)]beats by $0.01[/color].
  
  
• Revenue of $25.25B (+12.4% Y/Y) [color=var(--teal-100)]beats by $1.01B[/color].
  
  
• Shares [color=var(--teal-100)]+0.04%[/color] PM.
  
  
• The company announced a 7% increase in its annualized dividend to $4.60 per share from $4.30 per share, effective with the dividend expected to be paid in June 2022.
  
  
• The company also announced a new share repurchase program providing for the repurchase of up to $10B of PepsiCo common stock through February 28, 2026.
  
  
• For FY2022, the company expects a 6%t increase in organic revenue; core annual effective tax rate of 20%; Total cash returns to shareholders of approximately $7.7B, comprised of dividends of $6.2Bn and share repurchases of $1.5B; core earnings per share of $6.67 vs. consensus of $6.72.