Source: Sharecast
PepsiCo said revenue had risen 8.5% to $19.44bn, ahead of consensus estimates of $18.94bn, while organic sales increased 2.6%. Adjusted earnings of $1.61 per share also beat forecasts of $1.55 and net profits rose to $2.33bn, or $1.70 per share, up from $1.83bn, or $1.33 per share, a year earlier.
The Harrison-based firm said February's price reductions of up to 15% on Lay's, Tostitos, Doritos and Cheetos helped drive a 2% volume increase across its Frito‑Lay and Quaker Oats businesses, reversing a 1% decline in the prior quarter. Beverage volumes, on the other hand, fell 2.5%.
Full‑year guidance was unchanged, with organic revenue expected to grow 2% to 4% and earnings per share to rise 4% to 6%, even as the group noted a more uncertain global backdrop due to geopolitical tensions, saying its hedging strategy should help offset near‑term cost pressures.
As of 1315 BST, PepsiCo shares were up 1.05% in pre-market trading at $156.47 each.
Reporting by Iain Gilbert at Sharecast.com