PepsiCo beats Q4 top and bottom line estimates; initiates FY23 outlook
PepsiCo press release (NASDAQ:PEP): Q4 Non-GAAP EPS of $1.67  beats by $0.02.
Revenue of $28B (+10.9% Y/Y)  beats by $1.18B.
"Moving forward, we will continue to focus on driving growth and winning in the marketplace while developing advantaged capabilities to fortify our businesses for the longterm. This includes embedding pep+ at the center of our business in how we innovate, operate, run our teams, and build our brands.

For 2023, we expect to deliver 6 percent organic revenue growth and 8 percent core constant currency earnings per share growth. We also announced a 10 percent increase in our annualized dividend, starting with our June 2023 payment which represents our 51st consecutive annual increase, and plan to repurchase approximately $1.0 billion worth of shares."

Outlook: For FY2023, the company expects a 6% increase in organic revenue; core annual effective tax rate of 20%; Total cash returns to shareholders of approximately $7.7B, comprised of dividends of $6.7B and share repurchases of $1.0B; core earnings per share of $7.20 vs. consensus of $7.30.