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☆ PepsiCo earnings beat estimates as international demand boosts sales
▼ + stars: | 2024-04-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

PepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts' expectations, despite a recall of some Quaker Foods cereal and bars that dented U.S. volume. The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter. The company's food division saw its volume decrease 0.5%, while its beverage segment reported flat volume. The Quaker Foods recall dented Pepsi's organic volume by roughly 1%. For the full year, the company is expecting organic revenue will rise at least 4% and core constant currency earnings per share will climb at least 8%.

Organizations: Pepsi, Brooklyn borough New, PepsiCo, Quaker, LSEG, Gatorade, North, Quaker Food, Quaker Oats, Frito, Lay Locations: Flatbush, Brooklyn borough, Brooklyn borough New York City, Quaker, America, U.S, Asia Pacific, Australia, New Zealand, China, Europe

☆ PepsiCo earnings top estimates, but quarterly revenue slides for the first time in nearly four years
▼ + stars: | 2024-02-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

PepsiCo on Friday reported mixed quarterly results as North American demand for its food and drinks weakened. Pepsi's organic revenue, which excludes acquisitions and divestitures, rose 4.5% in the quarter, helped by higher prices. For 2024, Pepsi now anticipates organic revenue growth of at least 4% and core constant currency earnings per share growth of at least 8%. The company previously forecast organic revenue growth on the high end of 4% to 6% and core constant currency earnings per share growth in the high single digits. Executives are expecting international organic revenue growth to top that of North America for the full year.

Organizations: Pepsi, PepsiCo, Refinitiv, Quaker Foods, Lay, Quaker Oats Locations: Las Vegas, United States, North America, America

PepsiCo got a bump to fourth quarter profits thanks in part to lower charges and continued price hikes, but higher prices have weakened consumer demand for the company's snacks and drinks. Volume for Frito-Lay North America fell 2% in the final quarter of the year, and beverages North America in North America slid 6%. Volume fell 8% in the Quaker Foods North America unit, as the division dealt with a recall. Pepsi has wrestled with higher prices and how to pass those costs along, raising prices by double-digit percentages for several quarters. Its profits are up, though higher prices have dragged down sales as people trade down to cheaper brands.

Persons: Quaker Oats Organizations: PepsiCo, New, Zacks Investment Research, Wall, Frito, Lay, Pepsi, Quaker Foods, Quaker Foods North America, Global, Carrefour, Quaker, Lipton, PepsiCo Inc Locations: New York, America, North America, Europe, Asia Pacific, Australia, New Zealand, China, Quaker Foods North, France, Belgium, Spain, Italy, Purchase , New York

☆ PepsiCo beats Wall Street estimates, raises earnings outlook
▼ + stars: | 2023-10-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

PepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts' expectations and raised its outlook for its full-year earnings. Shares of the company rose 2% in premarket trading. Pepsi's North American beverages unit reported volume declines of 6%. Quaker Foods North America's volume rose 1%, while Frito-Lay North America's volume was flat. Quaker Foods' brands also gained market share in key categories, like pancake mix and syrup, executives said in prepared remarks.

Organizations: Pepsi, PepsiCo, LSEG, Gatorade, Taco Bell, Quaker, Frito, Quaker Foods Locations: Crockett , California

☆ Coca-Cola says it's done raising prices in the U.S. and Europe this year
▼ + stars: | 2023-07-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

For two years, Coca-Cola has been raising prices on its drinks to combat higher costs. But the company said Wednesday it's done hiking prices this year in developed markets like the U.S. and Europe. Coke's prices were up 10% in the second quarter compared with the year-ago period. Coke plans to keep raising prices in line with inflation in developing markets like Latin America. Coke shares fell less than 1% in morning trading, despite the company raising its full-year outlook and reporting earnings and revenue that topped Wall Streeet estimates.

Persons: Coke, James Quincey, Quincey Organizations: PepsiCo, Pepsi, Quaker Foods, Quaker Foods North America, Lay Locations: U.S, Europe, Latin America, Quaker Foods North, America

☆ PepsiCo beats earnings estimates, raises full-year outlook even as higher prices hurt demand
▼ + stars: | 2023-07-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts' expectations, despite falling demand for its drinks and food. Shares of the company rose more than 2% in premarket trading. But the company's volume fell as higher prices for its snacks and drinks hurt demand. Quaker Foods North America's volume shrank 5%, and Pepsi's North American beverage unit reported volume fell 4.5% in the quarter. However, Frito-Lay North America was one bright spot, reporting 1% volume growth.

Persons: Ruffles Organizations: Pepsi, PepsiCo, Refinitiv, Quaker, Frito, Lay, Lay Minis Locations: Crockett , California, America

☆ How PepsiCo is trying to get Doritos and Cheetos bags into compost bins
▼ + stars: | 2023-04-19 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

But more chip bags and snack containers being sold also means more waste from plastic and other packaging materials, something PepsiCo is aiming to take on. "Two years ago, if you think about our multipack packages, there was one plastic [packaging] outside, and each multipack serving," he said. McDonald's recently agreed under pressure from activist shareholders to produce a report on reusable packaging in exchange for having a shareholder vote on the issue rescinded. As far back as 2019, both Coke and Pepsi had already cut ties with a plastics industry association, and issued previous goals related to recyclable, compostable and reusable packaging. Taking what it learned from creating the Off The Eaten Path's packaging, Frito-Lay has introduced other packaging made from 85% renewable plant materials that produce roughly 60% lower greenhouse gas emissions than traditional snack bags.

☆ PepsiCo's price increases drive quarterly results beat
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

PepsiCo expects inflationary pressures to persist in 2023 and even though it sees resilient consumer demand, the company said it was keeping an eye out for a shift in consumer spending. The Frito-Lay maker forecast annual profit below Wall Street estimates, signaling multiple price hikes were likely to dampen demand for its sodas and snacks amid a cost-of-living crisis. PepsiCo's shares rose 1.6% to $174 in premarket trading after it also raised its annualized dividend by 10% to $5.06 per share. PepsiCo's Quaker Foods North America unit saw operating profit fall about 3% to $188 million as higher production costs took a bite out of margins. PepsiCo said it expects fiscal 2023 core constant currency earnings of $7.20 per share, compared with estimates of $7.28.

☆ PepsiCo earnings beat expectations as price hikes boost snack and beverage sales
▼ + stars: | 2023-02-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

PepsiCo on Thursday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher prices for its snacks and drinks. But the company saw volume fall 2% across its food business worldwide as those price hikes hurt consumer demand. Frito-Lay North America reported flat volume for the quarter, despite double-digit revenue growth for Doritos, Cheetos, Smartfood and many of its other brands. Looking to 2023, Pepsi is projecting a 6% increase in organic revenue and 8% growth in its core constant currency earnings per share. Wall Street is anticipating net sales growth of 3.5% and earnings per share growth of 7.3%.

☆ PepsiCo's price increases drive quarterly results beat, hikes dividend
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Feb 9 (Reuters) - PepsiCo Inc (PEP.O) on Thursday beat analysts' estimates for fourth-quarter revenue and profit, helped by price hikes undertaken by the beverage company to tackle rising costs. The company's shares rose 1.3% in premarket trading after it also raised its annualized dividend by 10% to $5.06 per share. However, the Frito-Lay maker forecast annual profit below Wall Street estimates, signaling multiple price hikes were likely to dampen demand for its sodas and snacks amid a cost-of-living crisis. On an adjusted basis, the company earned $1.67 per share, beating estimates of $1.65, according to Refinitiv data. PepsiCo said it expects fiscal 2023 core constant currency earnings of $7.20 per share, compared with estimates of $7.28.

☆ PepsiCo hikes forecast after third-quarter earnings, revenue top expectations
▼ + stars: | 2022-10-12 | by ( Jack Stebbins | ) www.cnbc.com time to read: +1 min

PepsiCo hiked its forecast for the year Wednesday morning after reporting third-quarter earnings and revenue that beat analyst expectations. Revenue: $21.97 billion vs. $20.84 billion expected. For its Frito-Lay North America division, the company said revenue rose 20% in the quarter despite a dip in volume. PepsiCo Beverages North America's revenue increased 4% on slightly higher volume. Total revenue rose to $21.97 billion, up 9% from $20.19 billion a year ago.

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