PepsiCo Lowers 2024 Revenue Outlook After Weak Q3 Sales, Hit By Decline In US Demand, Quaker Foods Recall

Benzinga

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.

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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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