PURCHASE, NY. – Elevated at-home consumption trends continued to benefit PepsiCo, Inc. during fiscal 2021, even though consumer mobility around the world rose in fits and starts.

“I think home as a hub is a clear trend, and we’re … capturing pretty good consumption at home,” said Ramon L. Laguarta, chairman and chief executive officer, during a Feb. 10 conference call to discuss financial results. He added that growth in away from home channels accelerated during the year and PepsiCo’s performance reflected higher levels of performance in both channels.

PepsiCo’s net income for the year ended Dec. 25 was $7.6 billion, equal to $5.49 per share on the common stock, and an improvement over fiscal 2020 when the company earned $7.1 billion, or $5.12 per share.

Fiscal 2021 sales surged to $80 billion from $70 billion the year before.

PepsiCo Beverages North America, the company’s largest business unit, generated an operating profit of $2.4 billion, up from $1.9 billion the year before, as sales surged to $25 billion from $23 billion. The company said the operating profit growth was attributable to sales growth, lower costs related to COVID-19 and productivity savings.

“Business performance benefited from our locally focused division structure, effective revenue management execution, and brand building investments,” Mr. Laguarta said in prepared remarks issued when the financial results were released. “As a result, many key brands performed exceptionally well for the full year, including double-digit net revenue growth in Pepsi, Mountain Dew, Gatorade, Starbucks, Lifewatr, Bubly, and Aquafina.”

Frito-Lay North America operating profit rose to $5.6 billion from $5.3 billion in fiscal 2020. Sales were $19.6 billion compared with $18.2 billion the year before.

“The breadth of Frito-Lay’s growth manifested across every key retail channel,” Mr. Laguarta said. “For both the fourth quarter and full year, we saw strong net revenue growth across the large format, convenience and gas, foodservice, and e-commerce channels.”

Weighing on PepsiCo’s performance in North America was Quaker Foods North America. Business unit operating profit fell to $578 million from $669 million. Sales during the year were flat at $2.75 billion in fiscal 2021 compared with $2.74 billion in fiscal 2020.

Higher commodity and transportation costs were cited as reasons for the decline in QFNA operating profit.

Latin America was the star of PepsiCo’s international performance. Operating profit rose to $1.4 billion from $1 billion in fiscal 2020 and sales rose to $8.1 billion from $6.9 billion. Productivity savings and a favorable exchange rate contributed to the business unit’s results during the year.

Looking ahead to fiscal 2022, PepsiCo, Inc., is guiding an 8% increase in constant currency earnings per share and a 6% increase in organic sales.

“We expect our North America beverage and convenient foods businesses to remain rational and resilient, and our international markets to perform well despite an uneven recovery across geographies,” Mr. Laguarta said.

In a question-and-answer session with securities analysts on Feb. 10, Hugh F. Johnston, chief financial officer, said the guidance is based on pricing currently in the marketplace.

“And that pricing is based on the visibility that we have into both the productivity and the cost structure and commodities, which we have pretty good visibility into,” he said.