Overview

• PepsiCo now expects its 2025 core earnings per share to remain flat year-over-year, revising its earlier mid-single-digit growth forecast.
• Procter & Gamble has lowered its full-year sales growth projection to flat and reduced its profit-per-share growth outlook to 6–8%, down from 10–12%.
• Both companies attribute their forecast revisions to higher costs from U.S. trade tariffs and a cautious consumer environment impacting volumes.
• PepsiCo reported a 1.8% decline in Q1 sales to $17.92 billion, while P&G saw a 2% drop in Q3 net sales to $19.78 billion, both missing analyst expectations.
• Executives from both firms are exploring mitigation strategies, including sourcing adjustments and potential price hikes, to manage ongoing cost pressures.