PepsiCo 1Q Profit, Revenue Rise
April 15 2021 - 6:49AM
Dow Jones News
By Dave Sebastian
PepsiCo Inc. said its profit rose for the recent quarter as
sales grew, despite uneven recoveries across its international
markets and weather-related disruptions in the U.S.
The food-and-beverage company Thursday posted net income
attributable to the company of $1.71 billion for the fiscal first
quarter, compared with $1.34 billion in the prior year. Earnings
were $1.24 a share, compared with 96 cents a share.
Adjusted earnings were $1.21 a share, the company said. Analysts
polled by FactSet had been expecting $1.12 a share.
For the quarter ended March 20, net revenue rose to $14.82
billion from $13.88 billion, the company said. Analysts were
looking for $14.55 billion. Revenue grew 2.4% on an organic
basis.
Revenue for Frito-Lay North America rose 4%. Quaker Foods North
America revenue rose 2%, and its North America beverage segment's
revenue rose 5%, the company said.
In Latin America revenue fell 5%, and revenue in Europe fell 2%,
the company said. Revenue rose 40% in Africa, Middle East and South
Asia, and it rose 70% in Asia Pacific, Australia and New Zealand
and the China region, PepsiCo said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
April 15, 2021 06:34 ET (10:34 GMT)
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