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PepsiCo earnings: Company cuts 2024 guidance as North America sales lag expectations

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Pepsico News

North America,Quaker Foods,Revenue Growth

A recall earlier this year, and consumers push back to higher prices dragged on PepsiCo's fiscal third quarter results.

) on Tuesday revised its 2024 sales outlook after its North America and international sales lagged Wall Street's expectations in the third quarter.

JP Morgan analyst Andrea Teixeira on Tuesday said she expects the stock to remain "negative to neutral." PepsiCo also reiterated expectations of at least an 8% jump in core constant currency earnings per share. Laguarta added that Pepsi's performance in the fiscal third quarter was impacted by "subdued category performance trends in North America," the impact ofAll three of PepsiCo's North America segments fell below expectations, including Frito-Lay, Quaker Foods, and PepsiCo Beverages, as it looks to combat consumer pushback of

 

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