When it comes to analyzing the latest business news, one company that is always in the spotlight is PepsiCo. Just recently, PepsiCo reported their quarterly earnings and revenue, surpassing analysts’ expectations despite facing challenges such as weaker U.S. demand due to Quaker Oats recalls and consumer backlash over higher prices for their products.
Despite these challenges, PepsiCo reported earnings per share of $1.61 (adjusted) compared to the expected $1.52, and revenue of $18.25 billion versus the $18.07 billion that was anticipated by Wall Street analysts. The company’s net income attributable to PepsiCo also saw an increase from the previous year, reaching $2.04 billion or $1.48 per share.
While PepsiCo faced a decrease in volume, particularly in its food division and the North American Quaker Foods segment, the company also saw growth in other regions. For instance, in Asia-Pacific, Australia, New Zealand, and China, there was a 12% volume growth for snacks. This shows that despite challenges in some markets, there are still opportunities for growth in other areas.
Looking ahead, PepsiCo reiterated its 2024 outlook, expecting organic revenue to increase by at least 4% and core constant currency earnings per share to climb by at least 8% for the full year.
PepsiCo’s CEO, Ramon Laguarta, highlighted the company’s efforts to target lower-income consumers in the U.S. and keep them as customers, particularly for popular snacks like Cheetos. Laguarta also mentioned that consumer behavior is changing globally, with consumers becoming more budget-conscious and selective in their purchases.
At Extreme Investor Network, we keep a close eye on companies like PepsiCo and provide unique insights into their financial performance and market trends. Stay tuned for more updates and analysis on the latest business news that can help you make informed investment decisions.
