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PepsiCo (PEP) Tops Q1 EPS by 9c, Offers Outlook

April 15, 2021 6:07 AM

PepsiCo (NASDAQ: PEP) reported Q1 EPS of $1.21, $0.09 better than the analyst estimate of $1.12. Revenue for the quarter came in at $14.82 million versus the consensus estimate of $14.55 million.

For 2021, the Company continues to expect:

• A mid-single-digit increase in organic revenue;

• A high-single-digit increase in core constant currency EPS;

• A core annual effective tax rate of approximately 21 percent; and

• Total cash returns to shareholders of approximately $5.9 billion, comprised of dividends of approximately $5.8 billion and share repurchases of $106 million. We completed our share repurchase activity and do not expect to repurchase any additional shares for the balance of 2021.

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