Pepsi (PEP) To Get Some Relief From Earnings?

PepsiCo, Inc. (PEP) will issue its third quarter 2023 (ended September 9) financial results and other related information on Tuesday, October 10, 2023. (1)

Pepsi manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company offers its products primarily under the Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, Aquafina, Emperador, Propel, Marias Gamesa, Ruffles, Sabritas, Saladitas, Tostitos, 7UP, and other brands.

Wall Street expects the snacks and beverages company to earn $2.15 per share (EPS) on sales of $23.41 billion, compared to $1.97 and $21.97 billion, respectively, for the same quarter a year ago. (2)

PEP shares have been crashing, trading less than $10 above its 52-week low after setting its 52-week high in May, not that long ago. Next week’s financial check-up could be pivotable for the company.

Its stock chart is decidedly negative with the cross of death, where the 50-day average moves from above to below the 200-day benchmark. If earnings disappoint investors, then shares could set a new 52-week low and dip into the $150s. However, positive results and upbeat guidance could prove to be a launching point for PEP’s price. Perhaps, sending it to technical resistance at $174 with plenty of other technical debris from there to $182.


Overall: Despite the longer-term risk being to the downside thanks to the cross of death and proximity to its 52-week low, PepsiCo, Inc. (PEP) could be due for a relief rally on the back of earnings.

Trading earnings is extremely risky and only appropriate for the most aggressive investors who can afford to lose money in short timeframes.

Rich Meyers


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