PepsiCo beats Wall Street estimates, raises earnings outlook
Publishing timestamp: 2023-10-10 09:19:01
Summary
PepsiCo reported third-quarter earnings and revenue that exceeded analysts' expectations. The company raised its full-year earnings outlook and expects constant currency earnings per share growth of 13% for 2023. However, there are concerns about volume declines and weakened demand due to price hikes and smaller value packs. The North American beverages unit reported volume declines, while the North American food divisions performed better. PepsiCo anticipates organic revenue growth of 4% to 6% and core constant currency earnings per share growth in high single digits for 2024.
Sentiment: MIXED
Tickers: PEP,
Keywords: breaking news: business, retail industry, pepsico inc., breaking news: earnings, food and drink, business, dividends, restaurants, ramon laguarta, business news, breaking news: markets, earnings, markets,
Source: https://www.cnbc.com/2023/10/10/pepsico-pep-q3-2023-earnings.html