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4d ago

PepsiCo Tops Q2 Revenue Estimates With 1% Growth, Trims EPS Decline Forecast

Easing foreign exchange pressures from a softer dollar have narrowed the company’s full-year core EPS decline forecast to 1.5%.

Bottles of Pepsi are displayed on a shelf in a supermarket in Sarajevo, Bosnia and Herzegovina October 29, 2024. REUTERS/Dado Ruvic/File Photo
MINNEAPOLIS, MINNESOTA – SEPTEMBER 25: Diana Taurasi #3 of the Phoenix Mercury warms up before Game Two of Round One of the WNBA Playoffs against the Minnesota Lynx at Target Center on September 25, 2024 in Minneapolis, Minnesota. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Stephen Maturen/Getty Images)
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Overview

  • Second-quarter revenue rose 1% to $22.73 billion, beating analyst expectations and lifting premarket share prices by 1.2%.
  • The company narrowed its full-year core EPS decline outlook to 1.5% from 3%, citing eased foreign exchange headwinds and stronger U.S. demand.
  • CEO Ramon Laguarta attributed the improved guidance to a softer dollar and rebounding North America performance in key beverage and snack channels.
  • PepsiCo broadened its product portfolio with health-focused brands such as Poppi and introduced new Lay’s and Doritos flavors in response to shifting consumer snacking trends.
  • It announced a regenerative agriculture partnership with Cargill to implement sustainable farming practices across 240,000 acres from 2025 through 2030.