PepsiCo Q1 2024 Earnings Report
Key Takeaways
PepsiCo's Q1 2024 showed resilience with net revenue growth of 2.3% and organic revenue growth of 2.7%, driven by international strength. EPS grew by 6% to $1.48, and core EPS reached $1.61. The company reaffirmed its 2024 financial guidance, expecting at least 4% organic revenue growth and at least 8% core constant currency EPS growth.
Net revenue grew by 2.3%, with a 0.5% negative impact from foreign exchange.
Organic revenue grew by 2.7%.
EPS increased by 6% to $1.48, while core EPS was $1.61.
Company reaffirms full-year guidance of at least 4% organic revenue growth and at least 8% core constant currency EPS growth.
PepsiCo
PepsiCo
PepsiCo Revenue by Segment
Forward Guidance
PepsiCo expects at least 4 percent increase in organic revenue and at least 8 percent increase in core constant currency EPS for 2024. They also anticipate total cash returns to shareholders of approximately $8.2 billion, including dividends of $7.2 billion and share repurchases of $1.0 billion.
Positive Outlook
- At least 4 percent increase in organic revenue
- At least 8 percent increase in core constant currency EPS
- Core annual effective tax rate of 20 percent
- Total cash returns to shareholders of approximately $8.2 billion
- Dividends of $7.2 billion
Challenges Ahead
- Approximate 1-percentage-point foreign exchange translation headwind to impact reported net revenue
- Approximate 1-percentage-point foreign exchange translation headwind to impact core EPS growth
- Unpredictability of future changes in foreign exchange rates
- Unpredictability of future changes in commodity prices
- Unable to reconcile full year projected 2024 organic revenue growth to our full year projected 2024 reported net revenue growth
Revenue & Expenses
Visualization of income flow from segment revenue to net income