PepsiCo Posts Strong Q1 2020 Results Due To Food And Snack Business Amid Covid-19

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...
- Advertisement -

PepsiCo, Inc. today reported results for the first quarter of 2020 and provided a 2020 business update.

“Our sympathies go out to all affected by COVID-19 and we thank all those working to keep people safe through this crisis. I also want to personally thank every one of our associates for their tireless efforts to serve customers, consumers and communities with much-needed food and beverages during these uncertain times. And to support our communities, PepsiCo launched an initiative to contribute more than $50 million focused on serving nutritious meals to people impacted by COVID-19 and providing vital support such as protective gear for healthcare workers, as well as testing and screening services. From community relief efforts to making, moving, and selling our products, PepsiCo employees around the world overcame immense challenges and disruptions. Our first-quarter results reflect these efforts and the agility of our business which delivered high single-digit net revenue growth,” said PepsiCo Chairman and CEO, Ramon Laguarta.

“This gives us confidence that the investments behind our Faster, Stronger and Better framework are working – as we invest in our brands, supply chain and go-to-market systems, manufacturing capacity, capabilities and culture, and our society by integrating purpose into everything we do.

I am also pleased to announce that we closed our highly strategic acquisition of Rockstar Energy Beverages and have entered into a national agreement to be the exclusive distributor of Bang Energy drinks in the United States. Together, these brands coupled with Mountain Dew, position PepsiCo to better participate and capture its fair share within an attractive and highly profitable category.

Read Also:  Uganda Urge to Reassure Tourists After Kidnappers Demand $500,000 Ransom
- Advertisement -

Despite a strong first quarter, there is still a great deal of uncertainty that exists in relation to COVID-19, including how geographies, retail channels and consumer behaviours will evolve over time. Due to this uncertainty, the Company’s previous financial outlook regarding the fiscal year 2020 is no longer applicable. However, with a strong balance sheet, highly cash generative business and ample liquidity, we believe we have adequate flexibility to meet the needs of our business and return cash to shareholders.

With a strong portfolio of brands in attractive categories, an agile supply chain and flexible go-to-market systems, we are successfully managing through the complexities of today and building competitive advantages to emerge an even stronger company in the future.”

- Advertisement -
PepsiCo Posts Strong Q1 2020 Results Due To Food And Snack Business Amid Covid-19 - Brand SpurPepsiCo Posts Strong Q1 2020 Results Due To Food And Snack Business Amid Covid-19 - Brand Spur

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

PepsiCo Posts Strong Q1 2020 Results Due To Food And Snack Business Amid Covid-19 - Brand SpurPepsiCo Posts Strong Q1 2020 Results Due To Food And Snack Business Amid Covid-19 - Brand Spur

Latest News

New F5 Research Reveals 75 Percent of Asia Pacific Consumers Do Not Feel Responsible for Their Own Data Security

F5’s latest Curve of Convenience 2020 report shows that application users in Asia Pacific routinely overlook high-profile breaches in...

Vingroup partners with Medtronic to produce ventilator components

HANOI, VIETNAM - Media OutReach - August 13, 2020 - On August 12, 2020, VinSmart Research and Production Joint Stock Company (a subsidiary of Vingroup) officially announced the strategic...

Envision Digital Addresses Consumers’ EV Adoption Pain Points in Germany with New Home Charging Solution, Aims to Spur Electric Mobility Revolution

End-to-end, affordable solution solves private charging infrastructure gap and complements local government schemes to accelerate sustainable living and seven to 10 million EV take-ups...

Infinix to announce Zero 8 soon as its flagship smartphone for 2020

NAIROBI, KENYA and DODOMA, TANZANIA - Media OutReach - 13 August 2020 - Infinix is said to launch Zero 8 soon, which is the latest product of its...

Guinness Nigeria Plc Notifies Of Fire Incident At Its warehouse; Restates Commitment To Prompt Services

On the 13th of August, 2020, there was a fire outbreak at one of Guinness Nigeria Plc's external warehouses on Wempco Road, in the...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -PepsiCo Posts Strong Q1 2020 Results Due To Food And Snack Business Amid Covid-19 - Brand SpurPepsiCo Posts Strong Q1 2020 Results Due To Food And Snack Business Amid Covid-19 - Brand Spur