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Compared to Estimates, PepsiCo (PEP) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, PepsiCo (PEP - Free Report) reported revenue of $18.25 billion, up 2.3% over the same period last year. EPS came in at $1.61, compared to $1.50 in the year-ago quarter.
The reported revenue represents a surprise of +0.62% over the Zacks Consensus Estimate of $18.14 billion. With the consensus EPS estimate being $1.52, the EPS surprise was +5.92%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PepsiCo performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net revenue- Asia Pacific, Australia and New Zealand and China Region: $1.06 billion versus $989.41 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
Net revenue- Frito-Lay North America: $5.68 billion versus $5.79 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.7% change.
Net revenue- Quaker Foods North America: $593 million compared to the $650.19 million average estimate based on three analysts. The reported number represents a change of -23.7% year over year.
Net revenue- Africa, Middle East and South Asia: $1.04 billion compared to the $970.20 million average estimate based on three analysts. The reported number represents a change of +2.1% year over year.
Net revenue- PepsiCo Beverages North America: $5.87 billion compared to the $5.83 billion average estimate based on three analysts. The reported number represents a change of +1.3% year over year.
Net revenue- Europe: $1.94 billion versus the three-analyst average estimate of $1.93 billion. The reported number represents a year-over-year change of +2.7%.
Net revenue- Latin America: $2.07 billion versus the three-analyst average estimate of $1.98 billion. The reported number represents a year-over-year change of +16.3%.
Operating income (Non-GAAP)- Asia Pacific, Australia and New Zealand and China Region: $233 million versus $223.90 million estimated by three analysts on average.
Operating income (Non-GAAP)- Frito-Lay North America: $1.58 billion versus the three-analyst average estimate of $1.64 billion.
Operating income (Non-GAAP)- Latin America: $490 million compared to the $436.28 million average estimate based on three analysts.
Operating income (Non-GAAP)- Corporate unallocated: -$376 million versus -$413.35 million estimated by three analysts on average.
Operating income (Non-GAAP)- Africa, Middle East and South Asia: $152 million versus $160.96 million estimated by three analysts on average.
Shares of PepsiCo have returned +2.2% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, PepsiCo (PEP) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, PepsiCo (PEP - Free Report) reported revenue of $18.25 billion, up 2.3% over the same period last year. EPS came in at $1.61, compared to $1.50 in the year-ago quarter.
The reported revenue represents a surprise of +0.62% over the Zacks Consensus Estimate of $18.14 billion. With the consensus EPS estimate being $1.52, the EPS surprise was +5.92%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PepsiCo performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net revenue- Asia Pacific, Australia and New Zealand and China Region: $1.06 billion versus $989.41 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
- Net revenue- Frito-Lay North America: $5.68 billion versus $5.79 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.7% change.
- Net revenue- Quaker Foods North America: $593 million compared to the $650.19 million average estimate based on three analysts. The reported number represents a change of -23.7% year over year.
- Net revenue- Africa, Middle East and South Asia: $1.04 billion compared to the $970.20 million average estimate based on three analysts. The reported number represents a change of +2.1% year over year.
- Net revenue- PepsiCo Beverages North America: $5.87 billion compared to the $5.83 billion average estimate based on three analysts. The reported number represents a change of +1.3% year over year.
- Net revenue- Europe: $1.94 billion versus the three-analyst average estimate of $1.93 billion. The reported number represents a year-over-year change of +2.7%.
- Net revenue- Latin America: $2.07 billion versus the three-analyst average estimate of $1.98 billion. The reported number represents a year-over-year change of +16.3%.
- Operating income (Non-GAAP)- Asia Pacific, Australia and New Zealand and China Region: $233 million versus $223.90 million estimated by three analysts on average.
- Operating income (Non-GAAP)- Frito-Lay North America: $1.58 billion versus the three-analyst average estimate of $1.64 billion.
- Operating income (Non-GAAP)- Latin America: $490 million compared to the $436.28 million average estimate based on three analysts.
- Operating income (Non-GAAP)- Corporate unallocated: -$376 million versus -$413.35 million estimated by three analysts on average.
- Operating income (Non-GAAP)- Africa, Middle East and South Asia: $152 million versus $160.96 million estimated by three analysts on average.
View all Key Company Metrics for PepsiCo here>>>Shares of PepsiCo have returned +2.2% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.