PepsiCo increased beverage sales in North America by 0.8%, to US$6,811 million, but saw Frito-Lay's fall by 0.5%, to US$5,874 million.
The snack and soft drink multinational PepsiCo recorded an attributable net profit of US$3,083 million in its second fiscal quarter of 2024, ended June 15, which is equivalent to an advance of 12.2% compared to the same period of the year. former.
The company's net income amounted to US$ 22,501 million, 0.8% more in absolute values and 1.9% more in organic data, which excludes the impact of the exchange rate and variations in the accounting perimeter of the company. company.
PepsiCo increased beverage sales in North America by 0.8%, to US$6,811 million, but saw Frito-Lay's fall by 0.5%, to US$5,874 million. Afterwards, Quaker invoiced US$561 million on the continent, 18% less.
Sales increased by 2.5% in Europe, to US$3,515 million, and by 6.6% in Latin America, to US$3,045 million.
In Africa, the Middle East and Southeast Asia, US$ 1,592 million were received, while Asia-Pacific, Australia, New Zealand and China provided US$ 1,103 million.
These figures were 1.5% above and 2.1% below those recorded twelve months earlier, respectively.
"Our business delivered net income growth, strong gross and operating margin expansion, and double-digit earnings per share growth, remaining agile despite difficult revenue growth comparisons versus the prior year. the poor performance of the prepared foods category in North America and the impact of Quaker product recalls," explained Pepsico President and CEO Ramón Laguarta.
In the accumulated of the company's first six fiscal months, profits reached US$5,125 million, 9.5% more, while billing improved by 1.5%, to US$40,751 million.
FORECASTS
As a result of accelerating certain productivity initiatives, PepsiCo now expects to generate approximately 4% organic revenue growth when previously anticipated to be at least this amount. In addition, at least 8% constant currency earnings per share growth will be achieved in 2024.
Likewise, Pepsico has confirmed that it continues to expect a total cash return to shareholders of close to US$8.2 billion, comprised of US$7.2 billion in dividends and share buybacks amounting to US$1 billion.
