PepsiCo reverses course after reaffirming profit growth forecasts
Updates
** Shares of PepsiCo PEP.O reverse course from premarket dip, rise as much as 1.5% to $169.75; last up 0.66% at $168.35
** Co continues to see above 8% core EPS growth in 2024 , excluding foreign currency fluctuations, compared to a 7% increase in 2023
** Shares fell ~1% premarket after PEP lowered annual organic sales growth forecast on softer demand in North America for its sodas, Frito-Lay snacks owing to cautious consumer spending
** We expect PEP will continue tapping productivity to support reinvestment and drive EPS, while they work to build volume - Brokerage BofA
** Co reports surprise Q3 revenue drop, but posts Q3 adj. EPS of $2.31/shr vs estimate of $2.29, compiled by LSEG
** Reports 110 basis points expansion in Q3 gross margins
** Up to Monday's close, stock had fallen ~2% YTD
Reporting by Neil J Kanatt in Bengaluru
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
