PepsiCo's Sales Rise on Boost From Snacks

Date : 04/17/2019 @ 12:22PM
Source : Dow Jones News
Stock : Pepsico, Inc. (MM) (PEP)
Quote : 126.0  -0.92 (-0.72%) @ 7:01PM

PepsiCo's Sales Rise on Boost From Snacks

PepsiCo, Inc. (NASDAQ:PEP)
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By Kimberly Chin 

PepsiCo Inc.'s revenue rose in the latest quarter, boosted by the company's Frito-Lay division in North America, but foreign-currency effects weighed on international operations.

The maker of Pepsi beverages, Quaker oatmeal and Tropicana orange juice said revenue rose 2.6% to $12.88 billion. Analysts polled by Refinitiv expected $12.69 billion.

Sales in the company's North America Frito-Lay division rose 5.5% while revenue rose 2.2% in the company's North America beverages division. Still, sales in its Latin America, Europe and Sub-Saharan Africa divisions rose for the quarter. Sales in Asia, the Middle East and North Africa slipped.

Overall organic revenue growth, which excludes currency fluctuations, acquisitions and divestitures, rose 5.2%.

PepsiCo reported a first-quarter profit of $1.41 billion, or $1 a share, up from $1.34 billion, or 94 cents a share in the comparable quarter a year earlier. Analysts expected per-share profit of 87 cents.

Excluding one-time items, earnings were 97 cents a share. Analysts had expected 92 cents a share.

Shares of PepsiCo rose 1.9% in premarket trading to $124.75.

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

April 17, 2019 07:07 ET (11:07 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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