PepsiCo posts strong Q1 revenue growth

Operating profit stood at USD 5.27 bn, up 128% from USD 2.31 bn the prior year.

PepsiCo’s Frito-Lay North America division reported a 14% rise in net revenue to USD 4.84 bn. Meanwhile, PepsiCo Beverages North America’s net revenue rose by 5.5% to USD 5.35 bn, with the company recognising gains associated with a USD 3.3 bn juice divestiture (Tropicana and other brands) in its PepsiCo Beverages North America and Europe divisions. The company has also highlighted charges related to property, plant and equipment impairment due to the ongoing conflict in Ukraine.

Ramon Laguarta, Chairman and CEO of PepsiCo, commented: “For the first quarter, we delivered strong results which reflect our presence in growing, global categories and the investments we have made towards becoming an even faster, even stronger and even better company with ‘PepsiCo Positive (pep+)’ at the centre of everything we do. Given the strength and resilience of our businesses to date while reflecting higher than expected input cost inflation for the balance of 2022, we now expect our full-year organic revenue to increase 8% (previously 6%) and we continue to expect core constant currency earnings per share to increase 8%”.