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PepsiCo has lowered its 2024 full-year forecast for organic revenue growth, now expecting a low-single-digit rise instead of the previously anticipated 4%. The company faced weaker-than-expected sales for the second consecutive quarter, driven by a decline in demand in the U.S., international business disruptions, and the ongoing impacts of the Quaker Foods North America recalls. The company reiterated its core constant currency EPS forecast of at least 8% growth for the year. Shares fell 1% in premarket trading.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02PepsiCo has lowered its 2024 full-year forecast for organic revenue growth, now expecting
00:08a low single-digit rise instead of the previously anticipated 4%.
00:12The company faced weaker-than-expected sales for the second consecutive quarter, driven
00:16by a decline in demand in the U.S., international business disruptions, and the ongoing impacts
00:21of the Quaker Foods North America recalls.
00:24The company reiterated its core constant currency EPS forecast of at least 8% growth for the
00:29year.
00:30Shares fell 1% in pre-market trading.
00:32For all things money, visit Benzinga.com.

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