PURCHASE, N.Y., April 23, 2015 /PRNewswire/ -- PepsiCo, Inc. (NYSE: PEP) today reported organic revenue growth of 4.4 percent and core earnings per share of $0.83 for the first quarter.
- Organic revenue grew 4.4 percent
- Core gross margin expanded 150 basis points
- Core EPS increased 1 percent to $0.83
- Core constant currency EPS increased 12 percent
“We are pleased with our performance for the first quarter of 2015. Our focus on innovation, brand-building, and marketplace execution, funded in part by our productivity initiatives, continues to drive strong, fundamental business performance," said PepsiCo Chairman and CEO Indra Nooyi. "In the quarter, we generated 4.4 percent organic revenue growth and we once again expanded both gross and operating margins.”
Frito-Lay North America (FLNA)
Positively impacted by productivity gains and lower commodity costs, partially offset by operating cost inflation and a double-digit increase in advertising and marketing expense.
Quaker Foods North America (QFNA)
Negatively impacted by an impairment charge associated with our dairy joint venture, a double-digit increase in advertising and marketing expense and operating cost inflation, partially offset by productivity gains. Core constant currency operating profit increased 2.5 percent excluding the impairment charge.
PepsiCo Americas Beverages (PAB)
Positively impacted by productivity gains and lower commodity costs, partially offset by higher operating cost inflation, a high-single-digit increase in advertising and marketing expense, and the lapping of a prior year adjustment recognized through our share of the results of a joint venture. View full report here.