PepsiCo beats profit and revenue estimates for Q1
PepsiCo Inc. (PEP) said Tuesday it had net income of $4.261 billion, or $3.06 a share, in the first quarter, up from $1.714 billion, or $1.24 a share, in the year-earlier period. Adjusted per-share earnings came to $1.29, ahead of the $1.23 FactSet consensus. Revenue rose to $16.200 billion from $14.820 billion, also ahead of the $15.538 billion FactSet consensus. The drinks and snacks company said it still expects full-year core constant currency EPS to rose 8% and to return about $7.7illion to shareholders between $6.2 billion of dividends and share buybacks of $1.5 billion. It expects to take a 2 percentage-point foreign exchange translation headwind to revenue and core EPS growth. It now expects full-year core EPS of $6.63, compared with a FactSet consensus of $6.67. Shares were slightly higher premarket but are flat in the year to date, while the S&P 500 has fallen 10%.
-Ciara Linnane
(END) Dow Jones Newswires
April 26, 2022 06:22 ET (10:22 GMT)
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