The food and beverage giant's price hikes to mitigate inflation buoyed sales for snacks and drink, but the strategy has also hurt demand.
Looking to 2023, Pepsi is projecting a 6% increase in organic revenue and 8% growth in its core constant currency earnings per share.Pepsi sodas are displayed on shelves at a Walmart Supercenter on December 06, 2022 in Austin, Texas. PepsiCo, the maker of Pepsi soda, plans to cut hundreds of corporate jobs at its North American division according to a news report from The Wall Street Journal.
The food and beverage giant reported fourth-quarter net income of $518 million, or 37 cents per share, down from $1.32 billion, or 95 cents per share, a year earlier. Excluding gains from selling its juice business, write-downs of its Russian assets and other items, Pepsi earned $1.67 per share. Net sales rose 10.9% to $28 billion. The company's organic revenue, which strips out the impact of acquisitions and divestitures, climbed 14.6% in the quarter.Looking to 2023, Pepsi is projecting a 6% increase in organic revenue and 8% growth in its core constant currency earnings per share. Wall Street is anticipating net sales growth of 3.5% and earnings per share growth of 7.3%.
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PepsiCo Q4 earnings beat estimates as guidance falls short; board approves 10% dividend hikePepsiCo Inc. said Thursday it had net income of $518 million, or 37 cents a share, in the fourth quarter, down from $1.322 billion, or 95 cents a share, in...
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