Summary
Pepsi's earnings day is right around the corner, and I believe the Street is a bit too cautious about 3Q18 revenues.
However, the decision to buy or not PEP should not revolve around a discussion about the upcoming quarter results, in my view.
The stock's 19.7x current-year earnings multiple that's lower than peer Coke's 22.1x looks enticing and highly justifiable to me.
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It's just about time for beverage and snack company PepsiCo (PEP) to unveil the results of its most recent quarter.
The earnings report is scheduled to come out on Tuesday, October 2nd, before the opening bell. I think the Street is once again expecting little of the New York-based packaged food powerhouse in terms of sales, which are estimated to come in at $16.4 billion for a timid 0.9% YOY top-line growth. Adjusted EPS consensus of $1.57 suggests an improvement of nearly a dime over year-ago levels, possibly pointing at optimism over margin resilience.
