Company news: PepsiCo (PEP) reports mixed quarterly results

PepsiCo (PEP) reported Q4 FY2023 earnings of $1.76 per share (versus $1.67 per share in Q4 FY2022), beating analysts’ consensus estimate of $1.72 per share.

The company’s quarterly revenues amounted to $27.840 bln (-0.6% y/y), missing analysts’ consensus estimate of $28.400 bln.

The company also said it now expects at least a 4% y/y increase in organic revenue and at least an 8% y/y increase in core constant currency EPS in FY2024.

In addition, PepsiCo announced a 7.1% increase in its annualized dividend to $5.42/share from $5.06/share.

PEP fell to $170.50 (-1.93%) in pre-market trading.