PepsiCo stock drops 2% after a Q2 revenue miss
The soft beverage maker posted Q2 EPS of $2.28, topping the projected $2.16. Revenue for the quarter totaled $22.5 billion, compared to the consensus estimate of $22.66 billion.By segment, Frito-Lay North America reported revenue of $5.87 billion, a 0.5% year-over-year decrease, missing the estimate of $5.94 billion. Quaker Foods North America generated $561 million in revenue, an 18% decline year-over-year, falling short of the forecasted $588.
Notably, the company said it now expects approximately 4% organic revenue growth for the year, compared to the previous forecast of “at least 4%.” Analysts expected 3.91% growth. “For the balance of the year, we will further elevate and accelerate our productivity initiatives and make disciplined commercial investments in the marketplace to stimulate growth.”Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PepsiCo to waive clause in bottling deal as Carlsberg eyes $3.9 billion Britvic bidPepsiCo to waive clause in bottling deal as Carlsberg eyes $3.9 billion Britvic bid
Read more »
PepsiCo earnings preview: UBS discusses what to expect in Q2 printPepsiCo earnings preview: UBS discusses what to expect in Q2 print
Read more »
Paris 2024: Elite Athletes Call On Coca-Cola And PepsiCo For ChangeI'm a global leader, advisor, connector and keynote speaker on sport and sustainability/climate action. I run Sport Positive, based in London, and all of our work centres on supporting global sports organisations to increase their ambition and take action on climate change, sustainability, environmental justice and biodiversity.
Read more »
June CPI release, PepsiCo earnings, UK economic growth - what's moving marketsJune CPI release, PepsiCo earnings, UK economic growth - what's moving markets
Read more »
PepsiCo second quarter profits jump, but demand continues to slip with prices higherPepsiCo reported higher-than-expected earnings in the second quarter even as customer demand for its snacks and drinks continued to slip. The Purchase, New York-based company said its net income rose 12% to $3 billion, or $2.28 per share, for the April-June period. Wall Street had expected earnings of $2.16 per share.
Read more »
PepsiCo second quarter profits jump, but demand continues to slip with prices higherPepsiCo reported higher-than-expected earnings in the second quarter even as customer demand for its snacks and drinks continued to slip.
Read more »