PepsiCo Q1 Results Top View, Backs 2015 Outlook
Food and beverages giant PepsiCo, Inc. (PEP) Thursday reported that net income for the first quarter remained flat with last year, while earnings per share grew 3 percent to $0.81 from $0.79. On an adjusted basis, core earnings per share remained flat with last year at $0.83. Core constant currency earnings per share increased 12 percent.
On average, 21 analysts polled by Thomson Reuters expected earnings of $0.79 per share for the quarter. Analysts' estimates typically exclude special items. Net revenue for the quarter declined 3 percent to $12.22 billion from $12.62 billion in the same quarter last year, reflecting the impact of adverse foreign exchange translation. Analysts expected revenues of $12.18 billion. Organic revenue grew 4.4 percent.
Looking ahead to fiscal 2015, PepsiCo continues to expect 7 percent core constant currency earnings per share growth, and mid-single-digit organic revenue growth from last year. Street is currently looking for full-year 2015 earnings of $4.65 per share on annual revenues of $64.72 billion.
The company also said it is on track to deliver about $1 billion productivity savings and $8.5 to $9 billion cash return to shareholders.(dpa)
Other news from the department business & finance
Get the food & beverage industry in your inbox
From now on, don't miss a thing: Our newsletter for the food & beverage sector brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
