Results for: PepsiCo

PepsiCo reported better-than-expected revenue in the first quarter of 2023, boosted by strong international demand for its snacks and beverages. Revenue increased by 2% to $18.3 billion, surpassing analysts’ forecasts of $18 billion. The company faced challenges in North America due to a Quaker Oats recall, leading to a 24% sales decline in Quaker Foods. However, robust growth in Asia Pacific (11%) and Europe (10%) offset these losses. Despite facing retailer disputes in Europe, PepsiCo has successfully resolved its pricing issues with Carrefour and resumed product distribution. The company has implemented price increases to counter rising ingredient costs, with net pricing rising 5% globally in the first quarter.

PepsiCo reported strong financial results in the first quarter, driven by robust international demand for its snacks and beverages. Despite a recall-related sales decline in North America, the company’s Asia Pacific and Europe operations delivered double-digit sales growth. PepsiCo’s price increases have slowed in the first quarter, with net pricing up 5% globally. The company’s earnings per share also surpassed Wall Street estimates, contributing to a positive outlook.

PepsiCo reported strong earnings and revenue in the first quarter of 2024, exceeding analysts’ forecasts. Excluding a recall of Quaker Foods products, the company’s adjusted earnings per share reached $1.61, compared to the projected $1.52. Net sales rose 2.3% to $18.25 billion, and organic revenue grew by 2.7%. However, PepsiCo faced volume pressure with a 0.5% decline in its food division and flat volume in its beverage segment. The Quaker Foods recall resulted in a 22% drop in volume for the North American division. Despite these challenges, PepsiCo’s international operations showed positive growth, with snacks and beverages in the Asia Pacific region experiencing a 12% and 7% volume increase, respectively. The company remains optimistic about its 2024 outlook, anticipating at least 4% organic revenue growth and 8% EPS growth in constant currency.

Before the opening bell, Wall Street anticipates PepsiCo to report earnings per share of $1.52 on $18.08 billion in revenue. In its first quarter, Packaging Corporation of America surpassed earnings projections and predicts second-quarter earnings of $2.07 per share. General Motors is projected to report earnings of $2.14 per share on revenue of $41.88 billion before markets open. Hibbett has agreed to be acquired by JD Sports Fashion for $87.50 per share in cash, valuing the transaction at $1.1 billion. Tesla is expected to report earnings of 51 cents per share on $22.34 billion in revenue after the closing bell.

Food and beverage giant PepsiCo (PEP) is expected to report its first-quarter financial results before the market opens on Tuesday. Analysts estimate the company will report revenue of $18.08 billion and earnings per share of $1.52, representing modest growth compared to the previous year’s first quarter. While Pepsi has consistently surpassed expectations in recent quarters, analysts warn that a Quaker recall and a slowdown in salty snacks could impact the results. Despite these concerns, analysts remain bullish on Pepsi’s long-term prospects, citing its international growth and strong brands.