The American beverage and snack group PepsiCo announced this Tuesday disparate results for the third quarter of 2024better than expected in terms of profits but with lower sales volume, and lowered its forecasts for the year.
In the third quarter, Pepsico had a turnover of 23.32 billion dollars, compared to 23.45 billion in the same period last year. The advance was 1.3 percent.
Analysts expected 23.86 billion.
Net profit was $2.93 billion, below the $3.09 billion in the same period of 2023.
Per share, that’s $2.31 in net income versus $2.25 a year earlier, and $2.29 expected by analysts.
“Our activities remained resilient in the third quarter, despite moderate performances in some categories in North America” in addition to new geopolitical tensions in some international markets,” said Ramón Laguarta, president of the group, in a statement.
Laguarta promised to continue investing in marketing and advertising “to stimulate consumer demand.”
The group’s management, however, reduced its turnover forecast, which should increase but less than previously expected, when the forecast was “around 4 percent.”
Meanwhile, net earnings per share remain with an expected increase of 8%, to $8.15 per share in 2024 compared to $7.62 in 2023.
The group will pay 7.2 billion dollars in dividends.
