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Stock impact report

PepsiCo beats revenue estimates but scraps forecast over virus crisis [Yahoo! Finance News]

PepsiCo, Inc. (PEP) 
Last pepsico, inc. earnings: 4/28 06:03 am Check Earnings Report
US:NYSE Investor Relations: pepsico.com/investors
FILE PHOTO: Pepsi products are displayed in a supermarket in New YorkReuters) - PepsiCo Inc beat first quarter revenue estimates, but ditched its full-year forecast on Tuesday, citing uncertainty around the globe due to the novel coronavirus pandemic.The company also said it still expected to pay $5.5 billion in dividends and buy back shares worth $2 billion this fiscal year, signaling financial stability at a time when several blue-chip firms have suspended shareholder returns to shore up cash reserves.While PepsiCo did not say how the virus was directly affecting its business, government lockdown orders around the world have triggered an unprecedented surge in demand for food and beverage products in recent weeks.Analysts said Pepsi's more diversified snacks business, which includes Lay's and Doritos, have given it a leg up over rival Coca-Cola Co as consumers stockpile.Last week, Coke warned of a hit to second-quarter sales also due to the closure of public venues and said volumes Show less Read more
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