PepsiCo (PEP) Q1 2022 Earnings Beat Estimates
In this photo illustration PepsiCo products are shown on October 05, 2021 in Chicago, Illinois.
Scott Olson | Getty Images
PepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations, with consumers paying more for their Doritos, Quaker oatmeal and Gatorade.
On the heels of its strong performance, the company raised its guidance for organic revenue growth for the full year.
Shares of the company were flat in premarket trading.
Here’s what the company reported compared to what Wall Street expected, based on a Refinitiv analyst survey:
- Earnings per share: $1.29 adjusted vs. $1.23 expected
- Revenue: $16.2 billion vs. $15.56 billion expected
Pepsi reported first-quarter net income attributable to the company of $4.26 billion, or $3.06 per share, compared with $1.71 billion, or $1.24 per share, a year earlier.
Excluding items, the company earned $1.29 per share, beating the $1.23 per share expected by analysts polled by Refinitiv.
Net sales rose 9.3% to $16.2 billion, beating expectations of $15.56 billion.
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