PepsiCo earnings beat estimates but product recalls, weaker lower-income consumer hurt U.S. sales
Publishing timestamp: 2024-04-23 11:48:06
Summary
PepsiCo beat earnings and revenue estimates, with stronger growth in international markets than in North America. Weaker U.S. demand was attributed to product recalls and backlash to higher prices. Despite the positive results, PepsiCo's volume is still under pressure, particularly in its North American divisions. The company is targeting lower-income consumers in the U.S. and seeing stronger demand in international markets. PepsiCo reiterated its 2024 outlook, expecting organic revenue to rise at least 4% and core earnings per share to climb at least 8%.
Sentiment: MIXED
Tickers: PEP,
Keywords: dividends, ramon laguarta, business, markets, retail industry, earnings, food and drink, united states, business news, pepsico inc., breaking news: business, restaurants, breaking news: markets,
Source: https://www.cnbc.com/2024/04/23/pepsico-pep-q1-2024-earnings.html