PepsiCo forecasts 2024 revenue growth of 4%, below estimates By
2024-02-09 21:20:12
more 
981

-- PepsiCo (NASDAQ:) has unveiled a full-year forecast for organic revenue growth of at least 4%, below Bloomberg consensus expectations of 5.2%, as the food and beverage group flagged waning benefits from elevated prices.

Soaring post-COVID inflation has helped to fuel top-line growth at Pepsi, although these price gains have begun to fade due in part to higher interest rates.

In a statement, Chief Executive Officer Ramon Laguarta said marketplace conditions are "changing" heading into its 2024 fiscal year, with shopping behaviors reverting "to pre-pandemic norms and net revenue realization [moderating] as inflationary pressures are expected to abate."

Shares in the Doritos chips owner slipped in premarket U.S. trading on Friday.

In Pepsi's fourth quarter, core per-share earnings grew to $1.78 from $1.67 year-on-year, despite an uptick in costs related to items like cooking oil and seasonal ingredients denting income by eight percentage points at its crucial Frito-Lay North America division.

Laguarta said he was pleased with Pepsi's overall performance in 2023, but noted the impact of macroeconomic volatility, geopolitical tensions and international conflicts.

Statement:
The content of this article does not represent the views of fxgecko website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!

Related News

您正在访问的是FxGecko网站。 FxGecko互联网及其移动端产品是中国香港特别行政区成立的Hitorank Co.,LIMITED旗下运营和管理的一款面向全球发行的企业资讯査询工具。

您的IP为 中国大陆地区,抱歉的通知您,不能为您提供查询服务,还请谅解。请遵守当地地法律。