(Boursier.com) — Pepsico fell slightly in pre-session on Wall Street despite the announcement of better-than-expected quarterly revenue and higher sales forecasts for the full year on the back of sustained demand for its products despite several rounds of price increases. The soda giant saw its revenues grow by 9.3% in the first quarter (+13.7% organically) to 16.20 billion dollars, fully benefiting from the lifting of restrictions linked to Covid-19 in places public such as bars and restaurants. The consensus was positioned at $15.57 billion. Adjusted EPS reached $1.29 versus $1.21 a year ago and a consensus of $1.23.
The firm is now aiming for organic growth of 8% this year, against an earlier forecast of +6%. On the other hand, it reduced its earnings per share forecast to $6.63 from $6.67 previously due to the strength of the US dollar and rising costs. Pepsico also recorded a charge of $241 million in the first quarter related to the war in Ukraine.
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