PepsiCo (PEP) Q1 2021 earnings beat
Cases of Pepsi are shown for sale in a store in Carlsbad, California, April 22, 2017.
Mike Blake | Reuters
PepsiCo reported quarterly results Thursday that beat analysts’ estimates as consumers maintained their pandemic snacking habits.
The company’s shares rose less than 1% in premarket trading.
The company reported, relative to Wall Street expectations based on an analyst survey by Refinitiv:
- Earnings per share: $ 1.21 adjusted versus $ 1.12 expected
- Revenue: $ 14.82 billion versus $ 14.55 billion expected
Pepsi reported net income of $ 1.71 billion, or $ 1.24 per share, for the first quarter, compared to $ 1.34 billion, or 96 cents per share, a year earlier.
Excluding items, the food and beverage giant earned $ 1.21 per share, beating analysts polled by Refinitiv, which was forecasting $ 1.12 per share.
Net sales rose 6.8% to $ 14.82 billion, beating expectations of $ 14.55 billion.