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PepsiCo Posts Higher Sales As People Stock Up Beverages & Snacks

Pritish raj by Pritish raj
April 29, 2020
in News, FMCG, Food
Reading Time: 2 mins read
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PepsiCo Sales- Next Big Brand

PepsiCo Sales- Next Big Brand

  • In premarket trading, PepsiCo stock climbed as the soda and snack giant posted surging revenue & sales in the first quarter.

In premarket trading, PepsiCo stock climbed as the soda and snack giant posted surging revenue & sales in the first quarter.

The beverage company, who also owns Lay’s and Doritos, said that in the first three months of the year, organic sales rose 7.9 percent as customers stocked up due to lockdown measures and shelter-in-place orders. Before the open, the stock grew 1.5 percent. Chief Financial Officer Hugh Johnston told investors that he expected revenues in the second quarter to decline at a low single-digit rate as restaurants, movie theaters and other locations around the world remain closed.

The company also withdrew its guidance for 2020 due to the uncertainties surrounding the coronavirus pandemic and expected revenues in the second quarter to decline at a low-single-digit pace “After a strong first quarter, there is still much uncertainty regarding COVID-19, including how geographies, distribution channels, and customer preferences will change over time,” the company said in Despite the uncertainty, PepsiCo said it still plans this financial year to return $7.5 billion to shareholders and to repurchase $2 billion in shares.

Net sales rose 7.7 percent in the first quarter to $13,881 billion, ahead of the FactSet forecast of $13,192 billion, while net income dropped to $1,338 billion — 96 cents per share — but adjusted earnings per share of $1,07 exceeded expectations of $1,03.

Pepsi performed better than his competitor Coca-Cola, whose sales volumes dropped 1 percent in the quarter amid shoppers stockpiling internationally ahead of the lockdowns. Around half of Coca-Cola’s revenue comes from its away-from-home outlets, which include restaurants, bars, and movie theaters — all closed in countries around the world.

Coca-Cola warned last week that the second quarter would be worse and had begun so far in April with a 25 percent slump in volumes.

Pepsi’s more diversified snack range helped her outperform her competitor during the coronavirus pandemic, with businesses in Frito-Lays and Quaker Foods North America achieving organic sales growth of 7 percent.

Chief Executive Ramon Laguarta said: “With customers spending more time at home, we saw a rise in breakfast eating and a desire to have more snacks during the day. The food businesses Frito and Quaker are well placed to capitalize on those improvements. And as a result, we’ve seen higher penetration of households across a range of our products. “He added that the negative effect on drinks is more important than the positive impact on snacks, but that PepsiCo had moved its advertisement and sales management, as well as promotions, to capitalization.

Conversely, the U.S. beverage industry was impacted by a move away from certain outlets, including gas stations and food services

Look ahead. Certainly, in recent months Pepsi has capitalized on filling pantry but the direction ahead is less evident. Consumer behaviors have changed significantly in a short period and it’s hard to foresee whether they will develop further as the pandemic progresses. Laguarta said he expects a steady increase in revenues at gas and grocery stores as people return to work but said it will take longer to gain revenue from restaurants, movie theaters, and sports events. The second quarter will probably be worse as with Coca-Cola but Pepsi’s snack product will relieve the discomfort.

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Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

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