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PepsiCo's (PEP) Q1 results reflect strong momentum across its international business, driven by at least high-single-digit organic revenue growth in all its international regions.
PepsiCo is crediting its quarterly growth to resilient consumer behavior, especially on an international scale. The soda and snack food giant on Tuesday (April 23) released earnings showing 2.3% net revenue growth, while forecasting an additional 4% for the coming year.
This December, the U.S. Food and Drug Administration (FDA) issued a recall of more than 40 Quaker Oats products due to possible salmonella contamination. Then, in January, dozens of additional Quaker Oats products were tacked onto the original notice—including Cap'n Crunch bars and Quaker Cereal.
PepsiCo (PEP) reported first-quarter results above expectation, with significant international growth offsetting struggles from the Quaker Foods division, but shares slipped in intraday trading Tuesday.
PepsiCo Inc (NASDAQ:PEP) stock is brushing off better-than-expected first-quarter earnings and revenue, last seen down 3.3% at $170.58.
PepsiCo Inc (NASDAQ:PEP, ETR:PEP) shares slipped 2.5% after it suffered weaker demand in the US, having faced recalls of products and backlash for hiking prices of its drinks and snacks. Despite the headwinds, the Pepsi and Lays owner was able to beat Wall Street estimates for both its quarterly earnings and revenues.
Consumer staples and Dividend Kings like PepsiCo NASDAQ: PEP are not often stocks that provide a lot of PEP for a portfolio. However, they can deliver substantial, market-beating returns when the stars align.
PepsiCo (PEP) came out with quarterly earnings of $1.61 per share, beating the Zacks Consensus Estimate of $1.52 per share. This compares to earnings of $1.50 per share a year ago.
PepsiCo Inc.'s stock PEP, +1.34% fell 0.6% in premarket trading on Tuesday after the soft drink and salty snack giant beat Wall Street's first-quarter profit estimate and reiterated its 2024 profit outlook, but said its 2024 earnings could fall slightly short of forecasts. PepsiCo said its earnings for the three months ended March 23 rose to $2.04 billion, or $1.48 a share, from $1.93 billion, or $1.40 a share in the year-ago period.
PepsiCo's volume and sales growth were better in most international markets than in its North America markets.