Overview
- PepsiCo, which reported results Thursday, posted $19.44 billion in revenue and $1.61 adjusted EPS that topped forecasts while keeping its full-year organic sales and profit goals.
- North America foods volumes rose 2% for the first time in more than two years after up to 15% price cuts on Lay’s, Doritos, Cheetos and Tostitos helped win back shelf space.
- North America beverage volumes fell about 2.5% even with contributions from the Poppi acquisition and wider distribution of Alani Nu energy drinks.
- The company said it will restage Gatorade with lower-sugar formulas and a new product using its own electrolyte blend that begins rolling out later this year.
- Several Wall Street firms raised price targets after the beat, citing early traction in snacks even as management flagged a more uncertain global backdrop.