PepsiCo (PEP) Misses Q1 EPS by 3c; offers outlook

PepsiCo (NASDAQ: PEP) reported Q1 EPS of $1.48, $0.03 worse than the analyst estimate of $1.51. Revenue for the quarter came in at $17.92 billion versus the consensus estimate of $17.78 billion.

Guidance and Outlook

The Company provides guidance on a non-GAAP basis as we cannot predict certain elements which are included in reported GAAP results, including the impact of foreign exchange translation and commodity mark-to-market net impacts.
For 2025, the Company continues to expect:
•A low-single-digit increase in organic revenue;
•A core annual effective tax rate of approximately 20 percent; and
•Total cash returns to shareholders of approximately $8.6 billion, comprised of dividends of $7.6 billion and share repurchases of $1.0 billion.
Given expected higher supply chain costs related to tariffs, elevated macroeconomic volatility, and a subdued consumer backdrop, we now expect our core constant currency EPS to be approximately even with the prior year (previously mid-single-digit growth).

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

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