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Sep 07, 2024
PepsiCo Q3 2024 Earnings Report
PepsiCo reported third-quarter results and updated 2024 financial guidance.
Key Takeaways
PepsiCo's businesses remained resilient in Q3 2024 despite subdued category performance in North America, impacts from Quaker Foods North America recalls, and geopolitical tensions. Strong cost controls aided profitability, with investments made to improve marketplace competitiveness. The company now expects a low-single-digit increase in organic revenue and continues to expect at least 8% core constant currency EPS growth.
Businesses remained resilient despite challenges.
Strong cost controls aided profitability.
Incremental investments were made to improve marketplace competitiveness.
Focus on tightly managing costs to align with the subdued growth environment.
PepsiCo
PepsiCo
PepsiCo Revenue by Segment
Revenue by Segment
Frito-Lay NA Revenue
CapyFin.comPBNA Revenue
CapyFin.comEurope, Middle East & Africa Revenue
CapyFin.comLatin America Foods Revenue
CapyFin.comAsia Pacific Foods Revenue
CapyFin.com Forward Guidance
PepsiCo expects a low-single-digit increase in organic revenue and continues to expect at least 8 percent core constant currency EPS growth.
Positive Outlook
- At least 8 percent increase in core constant currency EPS
- A core annual effective tax rate of 20 percent
- Total cash returns to shareholders of approximately $8.2 billion, comprised of dividends of $7.2 billion and share repurchases of $1.0 billion
- An approximate 1-percentage-point foreign exchange translation headwind to impact reported net revenue and core EPS growth based on current market consensus rates
- This assumption and the guidance above imply 2024 core EPS of at least $8.15, a 7 percent increase compared to 2023 core EPS of $7.62
Revenue & Expenses
Visualization of income flow from segment revenue to net income