PepsiCo stock rises as pricing actions drive earnings beat
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PepsiCo (NASDAQ:PEP) shares poked higher in premarket trading after the beverage giant reported a beat on top and bottom lines for Q1 and raised forecasts for the full year.

The Purchase, New York-based consumer packaged goods provider posted $1.50 in earnings per share on $17.85B in revenue for the first quarter, cruising past the Street consensus on each metric. A 16% rise in effective net prices helped offset an overall 2% decline in volumes. Organic revenue rose 14.3%, topping the analyst expectation of about 9.5% year over year growth.

âWe are very pleased with our performance and business momentum as our categories and geographies remained resilient during the first quarter,â CEO Ramon Laguarta commented. âGiven our strong start to the year, we now expect our full-year 2023 organic revenue to increase 8% (previously 6%) and core constant currency EPS to increase 9% (previously 8%).â

The earnings release adds that EPS guidance implies core EPS of $7.27, up from a prior $7.20. That figure edges out the analyst consensus set at $7.26. Revised revenue guidance at 8% also topped the 6.95% consensus estimate.

Shares of Pepsico (PEP) rose 1.14% shortly after the print.
Compare with Coca-Colaâs results on Monday.