PepsiCo earnings beat estimates, but demand for drinks and snacks drops

PepsiCo reported mixed quarterly results as North American demand for its snacks and drinks declined for the fifth straight quarter.

Shares fell more than 2% in premarket trading.

The company reported adjusted earnings per share of $1.96, slightly beating the $1.94 expected.

Revenue came in at $27.78 billion, just below the expected $27.89 billion.

Net income rose to $1.52 billion, or $1.11 per share, from $1.3 billion, or 94 cents per share, a year earlier.

Net sales dropped 0.2%, but organic revenue increased 2.1%.

Global volume rose 1% for both snacks and beverages, but U.S. demand remained weak.

Frito-Lay North America’s volume fell 3% as consumers cut back on snacking.

Pepsi’s North American beverage unit saw a 3% decline in volume, though Gatorade gained market share and Mountain Dew Baja Blast hit $1 billion in annual sales.

Quaker Foods North America’s volume fell 6% due to a prior recall, but improvement is expected in 2025, CNBC has reported.

Pepsi forecasts a low-single digit increase in organic revenue and mid-single digit growth in core earnings for 2025.

read more: https://www.cnbc.com/2025/02/04/pepsico-pep-q4-2024-earnings.html

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