PepsiCo, Inc. (PEP) reported its first-quarter earnings on April 23. In the first quarter, PEP’s EPS surpassed the consensus estimate by 6%, and its revenue exceeded analysts' estimates by 0.8%. The company has a solid earnings history, having beaten the consensus estimates in each of the trailing four quarters.
In 2024, PEP expects a 4% year-over-year increase in organic revenue and a core EPS of $8.15, representing a rise of 7% year-over-year. Despite the revenue and earnings beat in the first quarter, PEP is not a better buy than The Coca-Cola Company (KO) at this moment. Therefore, I believe waiting for a better entry point in both stocks could be prudent.
