PepsiCo reported first-quarter earnings per share of $0.70. The Company delivered strong operating results with 13% net revenue and 10% division operating profit growth.
PepsiCo Chairman and CEO Indra Nooyi said, "We delivered a strong first quarter. Each of our operating divisions had positive results, and we are pleased with the performance of the total portfolio. During the quarter, we faced the challenge of a macroeconomic slowdown in the U.S. and continued global commodity inflation, but the strength and breadth of our global footprint and portfolio helped us deliver strong first quarter results.
In the UK/Europe (UKEU) segment, broad-based snack volume growth of 8% was driven primarily by double-digit growth in Russia and high-single-digit growth in Spain.
The U.K. based Walkers business had a volume decrease of less than 1%, reflecting the impact of price increases. Acquisitions increased snack volume by 1 point.
In the Middle East/Africa/Asia (MEAA) segment, snack volume grew 15%, led by double-digit growth across China, South Africa, the Middle East and India.
