PepsiCo reported quarterly earnings that topped analyst estimates even as the company saw uneven recoveries in its international markets.
PepsiCo also reported organic net revenue growth of 2.4% in Q1 and expects to pick up pace in the second quarter, with the accelerated return of the foodservice channel.
Operating profit stood at $2.31 billion, up 20% from $1.92 billion last year.
Reported (GAAP) First-Quarter 2021 Results
Chairman and CEO, PepsiCo, Ramon Laguarta said,
“We are pleased with our results for the first quarter as we successfully overcame challenges related to difficult year-over-year comparisons, uneven recoveries across many of our international markets and weather-related business disruptions in the U.S.,”
“Our results are indicative of the strength and resilience of our highly dedicated employees, diversified portfolio, agile supply chain and go-to-market systems and strong marketplace execution. And we remain fully committed to executing against our key set of priorities to become a Faster, Stronger and Better organization and win in the marketplace.”
“Following our first-quarter results, we have greater confidence in delivering on our financial guidance for the full year.”