PepsiCo Lowers 2024 Revenue Outlook After Weak Q3 Sales, Hit By Decline In US Demand, Quaker Foods Recall

Benzinga 2024-10-08

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PepsiCo has lowered its 2024 full-year forecast for organic revenue growth, now expecting a low-single-digit rise instead of the previously anticipated 4%. The company faced weaker-than-expected sales for the second consecutive quarter, driven by a decline in demand in the U.S., international business disruptions, and the ongoing impacts of the Quaker Foods North America recalls. The company reiterated its core constant currency EPS forecast of at least 8% growth for the year. Shares fell 1% in premarket trading.

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