PepsiCo Posts Mixed Earnings as North American Consumers Scale Back Snacks, Drinks

PepsiCo disclosed mixed fourth-quarter earnings Tuesday amid ongoing challenges in North American markets. PepsiCo’s earnings per share exceeded expectations, but revenue fell short. Demand in North America has weakened as U.S. shoppers grow more cautious, cutting back on snacks and convenience store purchases. Frito-Lay North America’s volume declined due to consumers reducing snack purchases in response to rising food prices and interest rates, and the beverage unit experienced a volume decline. Shares dipped over 2% in premarket trading.