Tuesday ahead of the opening bell, PepsiCo (PEP) will be one of the first major companies to deliver second-quarter financial results.
Pepsi’s second-quarter earnings report follows a blowout first quarter for the soda and snack giant. The stock ratcheted to record highs on first-quarter results on April 17, after the company reported its best sales growth in three years. Pepsi’s Frito Lay brand was the main profit driver during the quarter, with growth both domestically and internationally. First-quarter organic revenue rose 5.2% with international segments seeing the strongest growth.
Shares of PepsiCo have been on a tear this year, jumping 22% and outperforming both its peers and the broader market. The ETF tracking the Consumer Staples, XLP, rose 18%, while the S&P 500 (^GSPC) increased 20% in the same time period. The XLP is currently flirting with record highs after hitting those levels last week.
For the second quarter, analysts expect PepsiCo to report earnings of $1.50 per share on $16.43 billion in revenue.
Meanwhile, market participants can expect the NFIB Small Business Optimism Index reading for June. Economists polled by Bloomberg are anticipating a reading of 103.0, down from the 105.0 reading in May.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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