PepsiCo Inc (NASDAQ: PEP) is up nearly 1.0% in the stock market this morning after reporting better-than-expected results for its fiscal first quarter.
PepsiCo Q1 financial highlights
- Net income printed at $4.261 billion that translates to $3.06 per share.
- In the same quarter last year, net income stood at $1.714 billion ($1.24 a share).
- Adjusted EPS came in at $1.29, as per the earnings press release.
- Revenue jumped 9.0% YoY to $16.20 billion in the recent quarter.
- FactSet consensus was for $1.23 of adjusted EPS on $15.538 billion in revenue.
- Latin America climbed 19% while Africa, Middle East, and South Asia grew 14%.
Revenue was up 14% and 11% respectively in Frito-Lay North America and Quaker Foods North America. PepsiCo Beverages North American noted a 5.5% revenue growth. The stock is now up nearly 15% since March 11th.
Guidance for the full financial year
For the full year, PepsiCo forecasts $6.63 of EPS versus analysts at $6.67, on 8.0% organic revenue growth. It expects currency exchange too results in a 2 percentage-point headwind for its core EPS and revenue.
The beverage giant is committed to returning $7.70 billion to shareholders this year. In the earnings press release, CEO Ramon Laguarta said:
Looking ahead, we’ll focus on controlling what we can, such as enhancing our focus on productivity and sharpening our revenue management capabilities, while also continuing to make the necessary long-term investments to fortify our businesses and win in the marketplace.
The post PepsiCo Q1 results: PEP to return $7.70 billion this year appeared first on Invezz.
Source: https://invezz.com/news/2022/04/26/pepsico-q1-results-pep-to-return-7-70-billion-this-year/