PepsiCo Lowers 2024 Sales Forecast Amid Weaker Consumer Demand

The company anticipates lower-than-expected revenue growth due to inflationary pressures and geopolitical tensions impacting consumer spending.

PepsiCo has revised its 2024 organic sales growth forecast to a low single-digit increase, down from the previously expected 4%.
North American sales have been particularly sluggish, with consumers opting for cheaper alternatives and smaller portions amid inflation.
The company's third-quarter revenue fell to $23.32 billion, missing Wall Street estimates and marking a 0.6% decline from last year.
PepsiCo's international markets are also experiencing a slowdown, with geopolitical tensions and macroeconomic pressures affecting performance.
Despite the sales outlook cut, PepsiCo maintains its annual profit forecast, expecting at least an 8% increase in core constant currency earnings per share.