PepsiCo Reports Strong Q1 Results Despite Product Recalls and Volume Declines

Despite surpassing revenue and profit expectations, PepsiCo's stock dips due to ongoing product recalls and volume pressures.

PepsiCo's first-quarter revenue and adjusted profits exceeded analyst expectations, driven by strong international growth.
Shares fell by approximately 2% amid concerns over a recall affecting Quaker Foods products and overall volume declines.
The company confirmed its 2024 financial outlook, projecting at least 4% organic revenue growth and a 7% increase in core earnings per share.
Volume declines were noted across North American beverage and snack divisions, with Quaker Foods North America experiencing a significant 24% drop.
PepsiCo plans to close a production facility linked to the recalls in June, with expectations of reduced impact over the year.