PepsiCo. Inc. reported its first quarter earnings per share that surpassed analysts’ estimates. The soft drink & snacks major also clocked in the sharpest organic sales growth in more than three years.
Pepsi’s earnings for the three months ending in March came in at $1 per share, beating analysts’ expectations of 93 cents per share. It was also higher than the year-ago quarter’s 94 cents a share. Total company revenue climbed +2.5% year-over-year to $12.88 billion.
Organic sales growth (a metric that separates out currency market impacts as well as mergers and acquisitions) increased +5.2% from last year, marking the fastest pace of quarterly year-over-year growth in more than three years, according to the company.
CEO Ramon Laguarta indicated that Pepsi’s Frito-Lay North America and the company’s international businesses delivered solid operational results, while PepsiCo Beverages North America generated “sequential quarterly net revenue acceleration." Sales in its North America beverages unit grew +2.15%, while its Frito-Lay snacks division rose +5.5%.