Overview

• PepsiCo's fourth-quarter earnings surpassed expectations with a profit increase, despite a slight revenue decline due to lower volumes and unfavorable currency exchange rates.
• The company's revenue fell for the first time in nearly four years, primarily due to reduced demand following price hikes.
• PepsiCo announced an increase in its annual dividend to $5.42 per share and plans to buy back about $1 billion of its shares.
• For 2024, PepsiCo forecasts at least 4% organic revenue growth and an 8% increase in core constant currency earnings per share.
• The company's stock experienced a decline following the earnings announcement, reflecting investor concerns over falling sales volumes.