PepsiCo Inc. (NASDAQ:PEP) reported first-quarter results that exceeded analyst expectations and reaffirmed its full-year guidance.
The company posted adjusted earnings per share of $1.61, beating the consensus estimate of $1.55. Revenue came in at $19.44 billion, surpassing the $18.94 billion forecast and increasing 8.5% from $17.91 billion in the prior-year period.
Organic revenue grew 2.6%, showing an acceleration from recent quarters, supported by effective pricing and modest volume growth. North America delivered sequential improvement across both food and beverage segments.
Operating profit increased 24% to $3.21 billion, while core operating profit rose 9% to $3.05 billion. Core operating margin expanded 10 basis points to 15.7%, driven by productivity gains and favorable foreign exchange, partially offset by higher operating costs.
GAAP earnings per share rose 27% to $1.70, while core EPS increased 9% from $1.48 in the year-ago quarter.
PepsiCo reaffirmed its fiscal 2026 outlook, projecting organic revenue growth of 2% to 4% and core constant currency EPS growth of 4% to 6%, with the midpoint of 5% aligning with company expectations.
