PepsiCo is navigating a challenging consumer environment and geopolitical tensions with strategic investments in productivity and brand value. While there are positive long-term trends and international market growth, short-term pressures remain.

Company Guidance

During PepsiCo's 2024 Q3 earnings call, the company provided comprehensive guidance, highlighting several key metrics and strategic initiatives. PepsiCo's executives, including Chairman and CEO Ramon Laguarta, expressed optimism about long-term category growth, bolstered by Gen Z's increasing snacking habits, which favor mini meals over large meals. The company aims to stimulate demand through investments in productivity across supply chain automation, digitalization, and demand generation budget optimization. For 2025, they plan to maintain EPS growth at 8%, leveraging a robust productivity toolkit, while expecting category growth to exceed 1%. The guidance also addressed international market challenges, such as geopolitical tensions and softer consumer markets, with a 0.5 percentage point revenue impact from these factors. Despite these challenges, PepsiCo anticipates margin expansion driven by efficiencies in the North American beverage business and international operations. In the U.S., the Frito-Lay segment will see increased investment in brand events and value offerings to drive volume growth, with notable investments planned for Doritos and Tostitos during the fall season. Overall, PepsiCo remains focused on balancing short-term performance with long-term brand health and sustainability investments.

Positive Long-term Snacking Trends

Gen Z is snacking more and eating mini meals, favoring category growth. Long-term trends support category growth, with potato chips as a major driver.

Strong Productivity and Cost Transformation

PepsiCo is deploying automation and digitalization across its supply chain, leading to sustained productivity and cost savings. Global capability centers are maturing, enhancing operational efficiency.

International Market Growth

Southeast Asia, India, Eastern Europe, and Brazil are experiencing positive growth, contributing to PepsiCo's international performance.

Beverage Business Margin Expansion

The beverage business in the U.S. and internationally is experiencing significant margin expansion, contributing positively to the overall company performance.

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PepsiCo (PEP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PEP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 02, 2018	2018 (Q3)	- / 1.59	1.48	7.43% (+0.11)	―	―
Feb 15, 2019	2018 (Q4)	- / 1.49	1.31	13.74% (+0.18)	―	―
Apr 17, 2019	2019 (Q1)	- / 0.97	0.96	1.04% (+0.01)	―	―
Jul 09, 2019	2019 (Q2)	- / 1.54	1.61	-4.35% (-0.07)	―	―
Oct 03, 2019	2019 (Q3)	- / 1.56	1.59	-1.89% (-0.03)	―	―
Feb 13, 2020	2019 (Q4)	- / 1.45	1.49	-2.68% (-0.04)	―	―
Apr 28, 2020	2020 (Q1)	- / 1.07	0.97	10.31% (+0.10)	―	―
Jul 13, 2020	2020 (Q2)	- / 1.32	1.54	-14.29% (-0.22)	―	―
Oct 01, 2020	2020 (Q3)	- / 1.66	1.56	6.41% (+0.10)	―	―
Feb 11, 2021	2020 (Q4)	- / 1.47	1.45	1.38% (+0.02)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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PEP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 08, 2024	$165.80	$168.98	+1.92%
Jul 11, 2024	$160.98	$161.34	+0.22%
Apr 23, 2024	$172.29	$167.17	-2.97%
Feb 09, 2024	$168.46	$162.47	-3.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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