PepsiCo Q1 Results Top View, Backs 2015 Outlook
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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)
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