Summary
Pepsico Beats
Pepsico (PEP) reported 1st Quarter March 2024 earnings of $1.61 per share on revenue of $18.3 billion. The consensus earnings estimate was $1.52 per share on revenue of $18.2 billion. The Earnings Whisper number was $1.56 per share. Revenue grew 2.3% on a year-over-year basis.
The company said it continues to expect 2024 earnings of at least $8.15 per share on revenue of at least $94.22 billion. The current consensus earnings estimate is $8.15 per share on revenue of $94.64 billion for the year ending December 31, 2024.
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world.
Results
Reported Earnings
$1.61
Earnings Whisper
$1.56
Consensus Estimate
$1.52
Reported Revenue
$18.25 Bil
Revenue Estimate
$18.16 Bil
Growth
Earnings Growth
Revenue Growth
Earnings Release
PepsiCo Reports First-Quarter 2024 Results; Affirms 2024 Financial Guidance
PURCHASE, N.Y. - April 23, 2024 - PepsiCo, Inc. (NASDAQ: PEP) today reported results for the first quarter 2024. “During the first quarter, our businesses remained agile and performed well, with a strong performance from our International business. We delivered a sequential improvement in our volume trends, and year-over-year growth in our net revenue, operating profit margin and EPS – despite the impact of certain product recalls at Quaker Foods North America and a difficult net revenue growth comparison from the prior year,” said Chairman and CEO Ramon Laguarta.
Laguarta continued, “As we look ahead, we will continue to focus our efforts on executing well in the marketplace and delivering great-tasting products that offer convenience and good value to the consumer. We will also continue to elevate and accelerate our productivity initiatives to support continued investments in our brands, capabilities and pep+ initiatives. As a result, we continue to expect to deliver at least 4 percent organic revenue growth and at least 8 percent core constant currency EPS growth in 2024. In addition, our previously announced 7 percent annualized dividend increase is expected to begin with our June 2024 payment and will represent our 52nd consecutive annual increase.”
For the full earnings release, please go here.
