PepsiCo (PEP) Tops Q1 EPS by 9c, provides guidance

PepsiCo (NASDAQ: PEP) reported Q1 EPS of $1.61, $0.09 better than the analyst estimate of $1.52. Revenue for the quarter came in at $18.25 billion versus the consensus estimate of $18.1 billion.

Consistent with its previous guidance for 2024, the Company continues to expect:
•At least 4 percent increase in organic revenue;
•At least 8 percent increase in core constant currency EPS;
•A core annual effective tax rate of 20 percent; and
•Total cash returns to shareholders of approximately $8.2 billion, comprised of dividends of $7.2 billion and share repurchases of $1.0 billion.
In addition, the Company continues to expect an approximate 1-percentage-point foreign exchange translation headwind to impact reported net revenue and core EPS growth based on current market consensus rates.
This assumption and the guidance above imply 2024 core EPS of at least $8.15, a 7 percent increase compared to 2023 core EPS of $7.62.

For earnings history and earnings-related data on PepsiCo (PEP) click here.

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