From Financial Modeling Prep: 2024-10-08 12:47:00

PepsiCo (NASDAQ:PEP) exceeded Q3 earnings expectations but fell short on revenue due to sluggish North American trends and international disruptions. Full-year revenue growth forecast was adjusted amid challenges, with organic revenue growth outlook revised to low-single-digit increase for 2024.

Adjusted earnings per share for Q3 were $2.31, slightly above expected $2.29, while revenue came in at $23.32 billion, below the $23.9 billion consensus. Chairman and CEO Ramon Laguarta acknowledged challenges from weaker North American trends, recent recalls, and international disruptions, prompting the revision of 2024 revenue growth outlook.

Despite revenue adjustments, PepsiCo reaffirmed at least 8% core constant currency EPS growth for 2024. Laguarta emphasized cost management strategy to navigate the current landscape. The company forecasts core EPS of at least $8.15 for fiscal year 2024, a 7% increase over 2023’s core EPS of $7.62, slightly above Street consensus.



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