PepsiCo fights off inflation costs to beat earnings estimates
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PepsiCo (NASDAQ:PEP) trades slightly higher in premarket trading on Tuesday after topping Q1 earnings estimates and posting mixed guidance for the full year.
Organic sales rose 13.7% in Q1, led by a 22% increase in Latin America and 18% rise in the Africa, Middle East and South Asia region. Organic sales were 13% higher for PepsiCo Beverages North America and 14% higher for Frito-Lay North America.
Volume was 3% higher for the convenient food business during the quarter and 6% higher for beverages. Pricing helping the company offset higher input costs.
Core EPS rose 20% year-over-year to $1.29 per share.
Looking ahead, PepsiCo (PEP) now expects full-year organic revenue to increase 8% vs. +6% prior view and +6.5% consensus. PepsiCo (PEP) also continues to expect core constant currency earnings per share to increase 8%. The food and beverage giant also sees FY22 revenue of $85.83B vs. $84.3B and FY22 EPS of $6.63 vs. $6.67 consensus. Higher than anticipated input cost inflation is forecast for the balance of 2022
Shares of PepsiCo (PEP) rose 0.23% premarket to $174.14 vs. the 52-week trading range of $141.73 to $177.24.