THE BARE STORY
PepsiCo reported third-quarter net sales of $25.27 billion, up 5.6% from a year earlier, as international growth helped the company exceed expectations for earnings and revenue. Adjusted earnings per share were $2.34, while net income totaled $3.05 billion, the company said.
The company said organic revenue rose 3.1% in the quarter. Global beverage volume increased 3% and food volume rose 1%, though North American beverage volume declined 2% and food volume was unchanged.
PepsiCo cut its forecast for full-year core earnings-per-share growth to between 2.5% and 3.5%, from a prior range of 5% to 7%. It raised its projected net revenue growth to about 6%.
Chief Financial Officer Steve Schmitt said the North American turnaround was progressing more slowly than expected. Chief Executive Ramon Laguarta said the company planned to reduce redundancies and discretionary spending to support investments in product innovation and brand marketing.
Note: All TheBareNews content is AI-generated. For additional context, reporting, and updates, you are invited to explore the news outlets linked above.
