Overview

• Adjusted EPS reached $2.29 versus $2.26 expected, and revenue rose 2.6% to $23.94 billion with organic growth of 1.3%.
• Global unit volume declined about 1%, including roughly 4% lower volumes in PepsiCo Foods North America and a 3% drop in North America beverages, offset by stronger international performance.
• PepsiCo maintained full-year guidance for low-single-digit organic revenue growth and core constant-currency EPS roughly flat year over year.
• Steve Schmitt, currently Walmart U.S. CFO, will become PepsiCo CFO on Nov. 10 as Jamie Caulfield retires after more than three decades.
• Elliott Investment Management’s roughly $4 billion stake continues to press for streamlining and potential bottler refranchising, and shares traded up about 1.5%–2.6% premarket.