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Pepsico profit misses consensus by 30.0% in Q4

PepsiCo Inc. said its fourth-quarter normalized net income came to 81 cents per share, compared with the S&P Capital IQ consensus estimate of $1.16 per share.

EPS fell 8.4% year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.17 billion, a decline of 10.0% from $1.30 billion in the year-earlier period.

The normalized profit margin fell to 6.0% from 7.0% in the year-earlier period.

Total revenue increased 5.0% year over year to $19.52 billion from $18.59 billion, and total operating expenses rose 5.4% year over year to $17.07 billion from $16.19 billion.

Reported net income fell 18.5% year over year to $1.40 billion, or 97 cents per share, from $1.72 billion, or $1.17 per share.

For the year, the company's normalized net income totaled $3.72 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.80.

EPS declined from $3.81 in the prior year.

Normalized net income was $5.40 billion, a fall from $5.65 billion in the prior year.

Full-year total revenue amounted to $62.80 billion, compared with $63.06 billion in the prior year, and total operating expenses totaled $52.84 billion, compared with $53.02 billion in the prior-year period.

The company said reported net income grew year over year to $6.33 billion, or $4.36 per share, in the full year, from $5.45 billion, or $3.67 per share.