Through good times and bad, food and beverage giant PepsiCo
International growth was expected to be strong and didn't disappoint: Those sales advanced 27%, led by top-line strength in the Middle East/Africa/Asia region, which reported a 30% boost.
The only true negative for the quarter was a 0.6% fall in volume in the Americas beverage unit, which sells its signature soda and a number of non-carbonated beverages in North America and Latin America. But still, the unit managed 6% sales growth and a 7% profit increase, despite the fact that U.S. consumers continue to shift to healthier, non-fizzy drinks.
CEO Indra Nooyi summed up the quarter best by saying that Pepsi "faced the challenge of a macroeconomic slowdown in the U.S. and continued global commodity inflation, but the strength and breadth of our global footprint and portfolio helped us deliver strong first-quarter results." Again, the international strength is nice, but nothing special, because most companies, including archrival Coca-Cola
You have to really give management kudos (or maybe Fritos?) for weathering a tough climate here at home. Food rivals such as Kraft
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Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.