PepsiCo Reports Strong Earnings but Lowers Full-Year Forecast
PepsiCo reported third-quarter earnings and revenue that exceeded Wall Street expectations, driven by strong international performance despite a lagging North American business. The company announced adjusted earnings per share of $2.34 against an expected $2.29, with total revenue reaching $25.27 billion versus the projected $24.96 billion. Despite these positive results, PepsiCo reduced its full-year forecast for core earnings per share growth to 2.5%–3.5%, down from a previous range of 5%–7%. The company now anticipates net revenue growth of about 6%, which is on the higher end of its earlier outlook. The report highlights ongoing challenges in North America, where performance has not matched international markets. PepsiCo's organic revenue increased by 3.1% during the quarter.
Tickers: $PEP
Topics: Earnings International Markets North America Performance Revenue Growth