PepsiCo reported better-than-expected first-quarter earnings and revenue. Adjusted earnings per share were $1.50 compared to the expected $1.39 expected, and revenue was $17.85 billion, higher than the $17.22 billion expected. While volumes dropped by 2 percent across all categories, prices rose by 16 percent. The company expects its full-year 2023 organic revenue to increase by 8 percent, up from 6 percent, and core constant currency EPS to increase by 9 percent up from 8 percent. PepsiCo also announced earlier this month its aim to have 100% recyclable, compostable, biodegradable, or reusable packaging by 2025.
