Activist investor Elliott Investment Management urges PepsiCo to review its North American food and drinks businesses after poor financial results. Elliott, with a $4bn stake in PepsiCo, calls for a more focused, streamlined approach to improve performance. The investor highlights underperformance in the PepsiCo Beverages North America division and suggests refranchising and portfolio review. PepsiCo reported net revenue of $91.85bn in 2024, with operating profit up 7.5% to $12.89bn and net income up 5.3% to $9.58bn. In July, PepsiCo saw a 0.3% decline in net revenue but a 1.7% rise organically. Operating profit dropped 35.4% to $4.37bn, while net income fell 39.6% to $3.01bn. PepsiCo plans to integrate its North American businesses to improve cost structure, according to chairman and CEO Ramon Laguarta. Shares in PepsiCo rose 2.44% to $152.27 following Elliott’s recommendations.

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