PepsiCo said net revenue for the 12-week period ended March 23, 2024 rose to $18,250 million from $17,846 million a year earlier, and diluted earnings per share (EPS) were $1.48.

1. 01

   PepsiCo said net revenue for the 12-week period ended March 23, 2024 rose to $18,250 million from $17,846 million a year earlier, and diluted earnings per share (EPS) were $1.48.

2. 02

   The company said net revenue at Quaker Foods North America fell over the 12-week period to $593 million from $777 million a year earlier, and the division posted an operating loss of $49 million. It cited the impact of the voluntary recall of certain bars and cereals (Quaker Recall) as a factor in the net revenue decline.

3. 03

   PepsiCo said net cash used for operating activities for the 12-week period ended March 23, 2024 was $1,041 million, larger than $392 million a year earlier. It said cash dividends paid were $1,767 million.

4. 04

   The company said it continues to expect organic revenue growth of at least 4% in 2024, core constant currency EPS growth of at least 8%, and total cash returns to shareholders of approximately $8.2 billion, consisting of dividends of $7.2 billion and share repurchases of $1.0 billion, consistent with its prior guidance.

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Original filing

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