PepsiCo (PEP) - Get Report said core earnings for the three months ending in December were pegged at $1.45 per share, a penny ahead of the Street consensus forecast. Group revenues, the company said, fell 9.75% from last year but topped analyst's estimates with a $20.64 billion tally.
“We are pleased with our performance for 2019 as we met or exceeded each of the financial goals we outlined at the beginning of the year. Our revenue growth accelerated for the full year as we embarked on our strategy to win with purpose by becoming Faster, Stronger, and Better," said CEO Ramon Laguarta.
"We increased brand support to become more locally relevant and consumer-centric, we strengthened our go-to-market execution to enhance our customer relationships, and we embraced a new set of initiatives to help build a more sustainable food system," Laguarta said.
"It's not easy to be "old school" these days when you are a student of stocks. It's not easy because you are being driven crazy, tortured even, by the new school, the school of no consequence and no repercussions. The school of earnings reportage," Cramer wrote in his morning column on Real Money about Pepsi.
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