PepsiCo said operating profit rose 3% in the 12 weeks ended March 23, 2024, and operating margin improved 0.2 percentage points. The company said effective net pricing and productivity savings drove the increase, and it cited the Quaker Recall as having an impact of 5-percentage-point.

10-QQuarterly reportFiled Apr 23, 2024Period of report Mar 23, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

PepsiCo said operating profit rose 3% in the 12 weeks ended March 23, 2024, and operating margin improved 0.2 percentage points. The company said effective net pricing and productivity savings drove the increase, and it cited the Quaker Recall as having an impact of 5-percentage-point.
PepsiCo said net cash used in operating activities was $1.0 billion in the 12 weeks ended March 23, 2024 (compared with $0.4 billion a year earlier), net cash used in investing activities was $0.6 billion, and net cash provided by financing activities was $10 million.
PepsiCo said it expects total pre-tax charges of about $3.65 billion for the entire 2019 Productivity Plan, including cash expenditures of about $2.9 billion. It said cumulative pre-tax charges through March 23, 2024 were $2.0 billion, including cash expenditures of $1.5 billion. The company said it expects pre-tax charges and cash expenditures of about $400 million each for the remainder of 2024.
PepsiCo announced on February 9, 2024 that it will raise its annual dividend by 7%, from $5.06 to $5.42 per share. The company said it expects total shareholder returns of about $8.2 billion in 2024, including dividends of about $7.2 billion and share repurchases of about $1.0 billion.

Key figures

Quarter ended March 23, 2024

Revenue: $18.3B
Operating income: $2.7B
Net income: $2.0B
EPS: $1.48
Gross profit: $10.0B
Operating cash flow: −$1.0B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Operating Profit Up 3% and Quaker Recall Impact

PepsiCo said operating profit rose 3% in the 12 weeks ended March 23, 2024, and operating margin improved 0.2 percentage points. The company said effective net pricing and productivity savings drove the increase, and it cited the Quaker Recall as having an impact of 5-percentage-point.

Source · Based on the MD&A text of the filing

12-Week Operating, Investing and Financing Cash Flows

PepsiCo said net cash used in operating activities was $1.0 billion in the 12 weeks ended March 23, 2024 (compared with $0.4 billion a year earlier), net cash used in investing activities was $0.6 billion, and net cash provided by financing activities was $10 million.

Source · Based on the MD&A text of the filing

2019 Productivity Plan Charges and Cash Expenditure Outlook

PepsiCo said it expects total pre-tax charges of about $3.65 billion for the entire 2019 Productivity Plan, including cash expenditures of about $2.9 billion. It said cumulative pre-tax charges through March 23, 2024 were $2.0 billion, including cash expenditures of $1.5 billion. The company said it expects pre-tax charges and cash expenditures of about $400 million each for the remainder of 2024.

Source · Based on the MD&A text of the filing

Dividend Raised 7% and 2024 Shareholder Return Plans

PepsiCo announced on February 9, 2024 that it will raise its annual dividend by 7%, from $5.06 to $5.42 per share. The company said it expects total shareholder returns of about $8.2 billion in 2024, including dividends of about $7.2 billion and share repurchases of about $1.0 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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