PepsiCo reported mixed second-quarter results, with adjusted earnings per share of $2.20 on $24.18 billion in revenue, topping revenue expectations but missing earnings estimates by one cent. Strong international demand was offset by weaker North American performance, where food volume was flat and beverage volume declined 4%. CEO Ramon Laguarta attributed the softness to tightening consumer budgets from inflation and rising gas prices, particularly impacting convenience store demand. The company reiterated its full-year forecast for organic revenue growth of 2% to 4%, expecting a gradual recovery in North American volumes.
PepsiCo IncMixed Q2 results: revenue beat but earnings miss by one cent; full-year forecast reiterated.