PepsiCo Non-GAAP EPS of $1.50 beats by $0.11, revenue of $17.85B beats by $580M
PepsiCo press release (NASDAQ:PEP): Q1 Non-GAAP EPS of $1.50  beats by $0.11.
Revenue of $17.85B (+10.2% Y/Y)  beats by $580M.
For FY2023, the company now expects to deliver 8 percent organic revenue growth (previously 6 percent), and 9 percent core constant currency EPS growth (previously 8 percent). Annual effective tax rate of 20 percent; Total cash returns to shareholders of approximately $7.7 billion, comprised of dividends of $6.7 billion and share repurchases of $1.0 billion. Core EPS of $7.27 (previously $7.20), a 7 percent increase (previously 6 percent) vs. consensus of $7.26.

CEO comment: âOur results demonstrate that the investments we have made to become an even Faster, even Stronger, and even Better organization by Winning with pep+ are laying the foundation for durable and sustainable growth. We remain committed to our strategic agenda and will continue to invest in our people, brands, supply chain, go-to-market systems, and digitization initiatives to build competitive advantages and win in the marketplace.â