It's been a good week to be in the soda business.
While the debate over whether Pepsi or Coke taste better will probably go on forever, there's no denying the beverage companies have fairly healthy balance sheets.
PepsiCo and Coca-Cola both reported better-than-expected earnings this week, proving to investors that consumers still like their soda (or pop if you're from the Midwest) and snacks.
Shares of PepsiCo (PEP) rallied 5% to a new 52-week high Thursday after the maker of Pepsi, Fritos and Doritos (among other snacks and beverages) reported a 12% jump in earnings per share as sales rose more than 4%.
While its North American beverage business appears to have hit a speed bump, CEO Indra Nooyi remains confident the business is on track to meet expectations this year.
The company attributed some of the beverage volume decline to pricing decisions. Nooyi said the company will continue to explore "sensible opportunities" to boost value.
Meanwhile, Coca-Cola also beat earnings per share by a penny earlier this week, and said the restructuring of its U.S. bottling system was ahead of schedule.
Shares of Coca-Cola (KO) were down slightly Thursday, perhaps due to a Barron's report saying the stock was looking expensive. But shares hit a new 52-week high just yesterday.
Slow and steady wins the race. Take a look at the year-to-date chart and it's been a nice steady climb for both beverage makers.
