- PepsiCo Inc PEP reported fourth quarter FY22 sale Growth of 10.9% year over year to $28 billion, beating consensus of $26.84 billion.
- Frito-Lay North America net sales increased 25% year over year, Quaker Foods North America increased 16% and PepsiCo Beverages North America increased 6%. Latin America revenue increased 21% year over year.
- Gross profit increased 11.1% year over year to $14.5 billion and profit margin improved 11 basis points year over year to 52.06%.
- Operating margin declined 723 basis points to 2.9% and operating income for the quarter fell 68.2% to $815 million.
- The company had $5.1 billion in cash and cash equivalents as of December 31, 2022. Net cash from operations for the year totaled $10.8 billion.
- Core earnings per share of $1.67 beat analyst consensus of $1.65.
- dividend: PEP announced a 10% increase in its annualized dividend from $4.60 per share to $5.06 per share, effective with the dividend expected to be paid in June 2023.
- outlook: PepsiCo expects FY23 organic sales growth of 6%.
- It provides for a constant currency for fiscal year 23 EPS growth of 8%.
- Pepsico expects FY23 earnings per share of $7.20 versus an estimate of $7.28.
- Pepsico expects cash returns to shareholders totaling $7.7 billion, comprised of $6.7 billion in dividends and $1 billion in share repurchases.
- Price promotion: PEP shares are trading up 1.19% at $173.19 on the last check Thursday.
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