Published • loading... • Updated
PepsiCo says economic concerns weighed on customers in North American during recent quarter
North American food and beverage volume fell 4% and flat, while international demand helped PepsiCo top Wall Street revenue forecasts.
- On Thursday, PepsiCo reported second-quarter net revenue of $24.18 billion, exceeding Wall Street expectations of $23.95 billion, with net income reaching $2.98 billion.
- PepsiCo's North American food business reported flat volume for the quarter, while its beverage division saw volume drop 4%, offsetting strong international growth.
- CEO Ramon Laguarta said, "Results were tempered in the quarter as U.S. food and beverage category performance moderated with consumer budgets tightening due to rising inflationary pressures."
- Adjusted earnings reached $2.20 per share, falling short of the $2.21 analyst forecast, causing PepsiCo shares to decline less than 1% in premarket trading Thursday.
- For the full year, PepsiCo reiterated its forecast that organic revenue will rise between 2% and 4%, with core constant currency earnings per share increasing 4% to 6%.
Insights by Ground AI
Podcasts & Opinions
41 Articles
41 Articles
Santa Maria TimesReposted by 
Independent Español
Independent EspañolNEW YORK (AP) — PepsiCo had stronger revenues than expected in the second quarter despite weaker demand in North America, where consumers adjusted their budgets as the war in Iran led to a rise...
·Calhoun, United States
Read Full Article
PepsiCo warns of higher commodity costs amid faltering North American food sales
PepsiCo on Thursday warned of higher commodity costs in the second half of the year, at a time when the snack and beverage giant is increasing investments and lowering prices to attract value-conscious consumers.
·New York, United States
Read Full Article
Coverage Details
Total News Sources41
Leaning Left4Leaning Right7Center16Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
15%
C 59%
R 26%
Factuality
To view factuality data please Upgrade to Premium
