After price increases enabled the American food and beverage business to offset an increase in input costs and report better-than-expected first-quarter results, PepsiCo Inc. increased its annual profit guidance.<\/p>\n\n\n\n
The firm that owns brands including Pepsi carbonated beverages and Frito-Lay potato chips announced that it has raised its previous expectation from 8% to 9% core constant currency earnings per share growth for the fiscal year 2023. In addition, organic revenue is anticipated to increase by 8% rather than the previously predicted 6%.<\/p>\n\n\n\n
\u201cWe are very pleased with our performance and business momentum as our categories and geographies remained resilient during the first quarter,” said chairman and chief executive officer Ramon Laguarta in a statement.<\/p>\n\n\n\n
Increased prices for labour and raw materials, which were partly caused by post-pandemic supply limitations and the start of the war in Ukraine, have hurt PepsiCo and rivals like Coca-Cola. Selling, general, and administrative costs increased by over a tenth to $7.23 billion in the 12 weeks that ended on March 25.<\/p>\n\n\n\n
PepsiCo has raised the prices it charges for its products in an effort to buck this trend. Reuters cited NielsenIQ data that showed a 16% increase in quarterly average selling prices. In contrast, PepsiCo promised in February not to increase prices any more, departing from a tactic used by Coca-Cola.<\/p>\n\n\n\n
Three-month core earnings per share at PepsiCo gained more than 16% to $1.50, topping Bloomberg consensus estimates of $1.38, while net revenue of $17.85 billion also beat projections.<\/p>\n","protected":false},"excerpt":{"rendered":"
After price increases enabled the American food and beverage business to offset an increase in input costs and report better-than-expected first-quarter results, PepsiCo Inc. increased its annual profit guidance. The firm that owns brands including Pepsi carbonated beverages and Frito-Lay potato chips announced that it has raised its previous expectation from 8% to 9% core …<\/p>\n","protected":false},"author":9,"featured_media":68411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7987,7113,8785,9810],"class_list":["post-83221","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-cpi-data","tag-earnings","tag-pepsico","tag-second-quarter-results"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=83221"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83221\/revisions"}],"predecessor-version":[{"id":83222,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83221\/revisions\/83222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/68411"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=83221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=83221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=83221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}