From RTTNews:

PepsiCo, Inc. reported a significant increase in net income for the fourth quarter. Core earnings per share exceeded analyst estimates, but annual revenues fell short. The company initiated its core earnings and organic revenue growth guidance for the full-year 2024.

Net income for the quarter soared to $1.30 billion with core earnings at $1.78 per share. However, net revenue edged down 0.5 percent to $27.85 billion. Only Latin America reported an increase in revenues.

Looking ahead to fiscal 2024, PepsiCo projects core constant currency earnings per share growth of at least 7 percent, along with organic revenue growth of at least 4 percent. The company also plans to increase its annualized dividend and repurchase shares.

PepsiCo CEO Ramon Laguarta expressed confidence in the company’s strategy and highlighted a focus on providing consumers with great-tasting products, managing costs, and investing in brands and innovation.



Read more: PepsiCo Q4 Adj. EPS Tops Estimates, But Revenues Miss