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PepsiCo sales beat estimates, boosted by house-bound breakfasts and snacking

covid-19 2020 pandemic quarantine
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Breakfast at home and snacking all day during Covid-19 quarantines helped PepsiCo Inc.’s first-quarter sales beat estimates.

The company’s first-quarter organic revenue, which excludes currency changes and acquisitions, rose 7.9%, beating Bloomberg’s consensus for a 3.6% gain.

Executives said on an analyst call that repeated purchases of Quaker Oats and other products show consumers aren’t just stockpiling but eating them.

They said snack products are also doing well, with Tostitos the big winner. Frito-Lay and Quaker Foods both saw a 7% adjusted sales gain.

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