PEP - What Analysts Are Saying About PepsiCo's Q1 Earnings? | Benzinga
On Tuesday, PepsiCo Inc (NASDAQ:PEP) reported first-quarter FY24 sales growth of 2.3% year-on-year to $18.25 billion, beating the analyst consensus estimate of $18.079 billion.
Adjusted EPS of $1.61 beat the consensus estimate of $1.52.
Below are comments from analysts, along with current ratings and price targets.
BofA Securities – Reiterates Buy, $210 price target
Analyst Bryan D. Spillane said the 5% year-on-year increase in pricing helped drive 40 basis points of gross margin expansion to 55.7%.
Organic sales growth of +2.7% was in line with the analyst’s +2.6% estimate.
Softer volume by -100bps each in PBNA and Latam was offset by better volume in QFNA, AMESA, and APAC, with FLNA and Europe volumes in line, opined the analyst.
The analyst ...