Today, PepsiCo released its financial report for the first quarter of 2020.
For Q1, Pepsi reported a net income of $13.38 billion, down from $14.13 billion in the same period last year, while the organic growth of the revenue was 7.9%.
The company adjusted its EPS to $1.07, a 10% increase since the pandemic took over everything, and people made supplies of food and drinks.
The return to the shareholders for the fiscal year 2020 is around $7.5 billion worth of dividends and buybacks.
Due to closing restaurants, stadiums, movie theaters, CFO Hugh Johnston expects a drop in the organic revenue for the second quarter. Besides, the company didn't make public its expectations about its fiscal outlook for the current year, as everything is uncertain.
The stock price gained 0.95 in premarket trading. Overall, it lost 1.6% in 2020, while USA500 dropped 11%.
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Sources: marketwatch.com, cnbc.com
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