Key Takeaways from PepsiCo’s First Quarter 2024 Earnings Report
Tuesday, 23 April 2024, 18:48
Results Beat Estimates
Shares of PepsiCo, Inc. (NASDAQ: PEP) were down over 2% on Tuesday, despite the company delivering better-than-expected results for the first quarter of 2024. The top and bottom line numbers grew year-over-year and surpassed projections.
Segment Performance
- Frito-Lay North America saw organic revenue growth of 2%, driven by strong performances from brands like Cheetos and Doritos.
- Quaker Foods North America experienced a significant decline due to product recalls and soft category growth.
- PepsiCo Beverages North America reported organic revenue growth of 1% with gains in key brands like Pepsi and Gatorade.
Outlook
PepsiCo anticipates solid performance in its international businesses and gradual improvement in North America. The company aims for organic revenue growth of 4% and core EPS growth of 8% in 2024.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.