PepsiCo (PEP) Q1 Earnings & Sales Beat Estimates, Stock Up
Zacks Investment Research | Apr 16, 2019 09:00PM ET
PepsiCo, Inc. (NASDAQ:PEP) reported solid first-quarter 2019 results, wherein earnings and sales topped estimates. With this, the company reported sales beat in seven of the last nine quarters. Further, it recorded positive earnings surprise in 12 of the last 13 quarters.
This improvement in earnings can be mainly attributed to strong operating performance in the company’s international divisions and Frito-Lay North America. Additionally, sequential revenue growth at PepsiCo Beverages North America segment aided results.
PepsiCo’s shares were up nearly 2.4%, following strong first-quarter results. Moreover, shares of this Zacks Rank #3 (Hold) company has gained 11.2% in the past three months, outperforming the industry ’s 3.5% growth.
Quarter in Detail
PepsiCo’s first-quarter core earnings per share (EPS) of 97 cents beat the Zacks Consensus Estimate of 92 cents and increased nearly 1% year over year. In constant-currency terms, core earnings improved 3% from the year-ago period.
Pepsico, Inc. Price, Consensus and EPS Surprise
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