Tuesday's Market Minute: Snacking is Going Strong

PepsiCo’s PEP third-quarter earnings beat estimates this morning, with earnings per share of $1.79 and revenue of $20.19 billion. The company also saw growth in multiple areas, including across snack foods and beverages in North America, and said it gained a share in the salty and savory snack categories.

This growth is especially important as PepsiCo is facing more difficult comps from last year during the lockdown. It shows that, for now, consumer snack habits aren’t changing as America starts to open up more – and could continue as colder weather pushes people back inside, along with the Delta variant. However, investors should note that PepsiCo, like many other companies, cited supply chain disruptions and inflationary pressures weighing on the quarterly results, and those headwinds don’t seem to be untangling themselves any time soon.

Image Sourced from Pixabay