PepsiCo and Helen of Troy both beat earnings expectations as the Q3 reporting season got underway. PepsiCo reported earnings of $2.34 per share on revenues of $25.27 billion, beating estimates by +2.18% and +1.59%, respectively; shares rose +1% on the news but remain down more than -12% year to date. Helen of Troy, the maker of OXO home products and Hydro Flasks, posted a fiscal Q2 profit of $0.79 per share against expectations of $0.51, a +54.9% positive surprise, though revenues slipped -0.12% from estimates to $440.93 million; strong guidance for the current quarter and full year sent shares up +20% in pre-market trading. Broader markets were lower, with the Dow down -399 points, the Nasdaq down -242 and the S&P 500 down -33, while renewed attacks on Saudi energy infrastructure by Iran-backed Houthis pushed WTI crude up +4.7% to $92 per barrel and Brent to $104 per barrel. Initial Jobless Claims came in at +197K, the fourth-straight week below +200K and the lowest level post-Covid, while Continuing Claims rose slightly to +1.716 million.
Helen of Troy LtdHelen of Troy beat fiscal Q2 EPS estimates ($0.79 vs $0.51) and issued strong guidance, sending shares up 20% pre-market.
PepsiCo IncPepsiCo beat Q3 EPS and revenue estimates ($2.34/share, $25.27B), lifting shares 1%.
