PepsiCo reported strong first-quarter results, surpassing Wall Street expectations for both revenue and profit. The company's international markets, particularly demand for its sodas and snacks like Cheetos and Doritos, contributed significantly to its growth. However, in the U.S., the performance was dampened by product recalls at its Quaker Oats brand, which detracted approximately one percentage point from organic revenue growth, and a decline in sales among lower-income consumers. Despite a -0.5% volume in convenient beverages and a -0.3% PM, PepsiCo saw a +3% increase in organic growth and a sequential improvement in volume trends. Management remains cautious, expecting a normalization of growth rates and continued budget-conscious behavior from consumers.
Nestlé $NESN Confectionery sales +6.3% y/y in 24Q1 Pricing contributed +5.9% KitKat "continues to gain share across all geographies" Group sales +1.4% organic (o/w +3.4% price) Confirms 2024 guide Sales +4% organic UL EBIT Margin "moderate increase" UL EPS +6-10% Shares down… https://t.co/lXgUYjmOtu
Sales down at Nestle after price hikes Read more 👇 https://t.co/IeTx8aUzBz
Nestle misses sales estimates after hiking prices across the board https://t.co/MCQS4vWTd7 https://t.co/hJtxqAHyhG
Nestle's Q1 organic sales growth slowed sharply with notable N. America weakness https://t.co/Bo1tuOhoqv
Nestle Sales Growth Slows Sharply as Consumer Demand Remains Weak https://t.co/WxIEfAybwJ
Nestle sales growth lagged expectations in the first quarter as the maker of Nespresso coffee and Haagen Dazs ice cream saw cooler demand in North America https://t.co/iX2GFg8q17 via @business @dasha_reports #Switzerland
Nestle sales growth lagged expectations in the first quarter as the maker of Nespresso coffee and Haagen Dazs ice cream saw cooler demand in North America https://t.co/b0dvk1u7gP
⚠️ NESTLE MISSES QUARTERLY SALES ESTIMATES Full Story → https://t.co/3rL0usJpSV Nestle on Thursday missed first-quarter organic sales growth estimates as the world's biggest packaged food company hiked prices and sold fewer products. https://t.co/RLWiNQpEYY
🇺🇸 PepsiCo earnings beat estimates but product recalls, weaker lower-income consumer hurt U.S. sales https://t.co/ng4SJqtiaV
PepsiCo beat Wall Street profit estimates on Tuesday, but numerous product recalls at its Quaker Oats brand impacted quarterly sales volume. https://t.co/tAqv2FdVvn
$PEP beat Wall Street expectations for Q1 revenue and profit as demand for its sodas and snacks like Cheetos and Doritos in international markets drove growth despite a slowdown in the US. https://t.co/NoCsBgj7K0
PepsiCo beats Q1 revenue forecasts as price increases moderate https://t.co/yQ81ewLeQA
PepsiCo's first-quarter results beat as international demand drives growth https://t.co/KHkLr5tUY8 https://t.co/69JkIHMeQM
PepsiCo’s first-quarter results beat estimates as international demand drives growth https://t.co/Kzu9WNLLW3
PepsiCo CEO & CFO: "As we look ahead, we continue to expect a normalization and moderate on in category growth rates versus the last few years. We also continue to expect that consumers will remain watchful with their budgets and choiceful with their purchases" $PEP https://t.co/NCOJCDRN3W
$PEP Q1 24: —Volume: -0.5% (convenient beverages) —Organic: +3% "...the performance of our Quaker Foods North America business detracted approximately one percentage point from our organic revenue growth rate" https://t.co/iGBO2JPWwr https://t.co/mV6v3SXjRf
PepsiCo double beat. CEO: "We delivered a sequential improvement in our volume trends & YoY growth in our net revenue, operating profit margin EPS.." $PEP: -0.3% PM https://t.co/ffxbI0v2KK https://t.co/FRQeaaWcrj