PepsiCo, Inc. (NASDAQ:PEP) posted upbeat earnings for the first quarter on Thursday.
The company reported first-quarter adjusted earnings per share of $1.61, outpacing the analyst consensus estimate of $1.55. Quarterly sales of $19.44 billion beat the Street view of $18.94 billion.
PepsiCo lowered its fiscal 2026 adjusted EPS guidance to $8.46-$8.63 from $8.55-$8.71, compared with the $8.61 estimate. It also cut fiscal 2026 sales guidance to $95.803 billion-$97.682 billion from $97.682 billion-$99.561 billion, compared with the $98.373 billion estimate.
PepsiCo Chairman and CEO Ramon Laguarta highlighted the firm’s international business and noted that North America continued to make progress in the first quarter, adding that it aims to execute its commercial plans effectively and manage costs to support growth investments.
PepsiCo shares fell 0.1% to trade at $158.22 on Friday.
These analysts made changes to their price targets on Pepsi following earnings announcement.
- Evercore ISI Group analyst Robert Ottenstein maintained PepsiCo with an In-Line rating and raised the price target from $165 to $170.
- JP Morgan analyst Andrea Teixeira maintained the stock with an Overweight rating and raised the price target from $172 to $178.
Considering buying PEP stock? Here’s what analysts think:
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