Overview

• Revenue rose 2.6% to $23.94 billion and adjusted EPS came in at $2.29, both slightly ahead of Wall Street forecasts.
• Net income fell 11% to $2.6 billion as worldwide food and beverage volume declined about 1%.
• North American beverage volume decreased 3% and food sales volume also fell, while Latin America and Asia recorded growth.
• PepsiCo reiterated guidance for roughly flat core constant-currency EPS and low single-digit organic revenue growth for the year.
• CFO Jamie Caulfield will retire and Walmart U.S. CFO Steve Schmitt will succeed him on Nov. 10, as Elliott Investment Management presses for portfolio changes and potential bottler refranchising.