Recently, PepsiCo, Inc., a global beverage and snack food giant, announced its first quarter 2024 earnings report. According to the financial report, the company's net revenue in the first quarter reached US$18.25 billion, compared with US$17.846 billion in the same period last year. Organic growth was 2.7 percent in the first quarter and is expected to be 4 percent for the full year, with earnings per share expected to increase 8 percent. In particular, the Asia-Pacific region achieved organic growth of 11% in the first quarter, demonstrating strong regional market dynamism.
Mr. Long Jiade, Chairman and Chief Executive Officer of PepsiCo, commented, "Our outstanding performance in the first quarter was driven by our ability to execute on the market and our continuous efforts to provide consumers with delicious, convenient and high-quality products. Looking ahead, we will continue to focus on market execution to meet the increasingly diverse needs of consumers. ”
Ms. Changan Xie, Chief Executive Officer, Greater China, and Chief Growth Officer, Asia Pacific, PepsiCo, added, "In a challenging market environment, we delivered excellent results in the first quarter with excellent execution. We are confident that with a higher standard of action and determination, PepsiCo will continue to be successful in the future. ”
As an industry leader with a global footprint of more than 140,000 employees in more than 200 countries and regions, PepsiCo's business covers beverages, snack foods, cereals and snacks, and other fields, demonstrating its deep diversified business heritage. In terms of product innovation and market expansion, PepsiCo has always adhered to a forward-looking vision, promoted the transformation and upgrading of its product portfolio around the concept of "Zero", and is committed to achieving healthy and sugar-free products, while meeting consumers' pursuit of diversified tastes.
Looking back, PepsiCo accurately captured the strong market demand for sugar-free beverages in 2017 and launched the Pepsi-Cola sugar-free series in a timely manner, successfully completing the rebranding. Since then, the company has kept its finger on the pulse of the market and launched raspberry-flavored and lime-flavored sugar-free Pepsi in 2019 and 2020, bringing richer taste choices and drinking experience to Chinese consumers. This series of innovations not only highlights PepsiCo's keen insight into market trends, but also demonstrates its deep understanding and precise response to consumer needs.
PepsiCo's Food & Beverage business continues to accelerate innovation. Brands such as Lay's, Quaker, and Baicaowei successfully detonated the market through the Spring Festival IP, and Pepsi-Cola's new packaging "lit up" all over the country, and the company continued to develop new channels and communication scenes outside the home, so as to deliver delicious taste and joy to more cities and consumers.
In terms of strengthening its foundation and setting industry benchmarks, PepsiCo has demonstrated strong supply chain strength, actively promoted green and low-carbon transformation, and contributed to high-quality development. PepsiCo's Ministry of Agriculture launched the "Potato University" systematic talent training program to drive sustainable agricultural development with new quality productivity and inject a steady stream of power into the company's green development strategy.
"Good times are expected, work together to create", PepsiCo is moving towards a new milestone. Greater China is the first region in the Asia-Pacific region to realize the full link of "farm-to-shelf" green transportation, and the Green Accelerator Program actively incubates innovative enterprises to jointly promote the construction of green value chains.
PepsiCo's strong Q1 results and strong innovation and green strategy once again demonstrated its leading position in the global FMCG industry. In the future, the company will continue to be consumer-centric, drive product innovation, deepen green transformation, and work with all parties to create a better future.