PepsiCo (PEP) Tops Q1 EPS by 3c
PepsiCo (NASDAQ: PEP) reported Q1 EPS of $0.96, $0.03 better than the analyst estimate of $0.93. Revenue for the quarter came in at $12.56 billion versus the consensus estimate of $12.4 billion.
“We generated solid overall results in the first quarter. The majority of our businesses performed very well, including particularly strong performances in our international divisions propelled by accelerated net revenue growth in developing and emerging markets,” said Chairman and CEO Indra Nooyi. “Although we continued to face challenges in North America Beverages, the sector had sequential improvement in top line momentum since the fourth quarter of 2017. We continued investing in and growing share in a number of faster-growing, future-facing categories. However, competitively we recognize the need to step up investments in core carbonated soft drinks, which we intend to responsibly do. We believe our plans will drive further improvement as the year progresses. Importantly, we remain on track to achieve the financial targets we set out at the beginning of the year.”
PepsiCo sees FY2018 EPS of $5.70, versus the consensus of $5.71.
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