π PepsiCo $PEP (PepsiCo) Q3 Update: Mixed Signals, Global Growth Cushions U.S. Weakness π₯€π
PepsiCo delivered better-than-expected Q3 results, but the report shows both strength and vulnerability beneath the surface π
πΉ Highlights:
π° EPS (adjusted): $ 2.29 vs. $ 2.26 expected β
π΅ Revenue: $ 23.94B vs. $ 23.83B expected β
π Net income: $ 2.6B (down from $ 2.93B YoY)
π Organic revenue: +1.3%
π Global volume: -1% overall (Food -1%, Beverages -1%)
πΊπΈ North America: Food volume -4%, Beverages -3% β οΈ
While international growth helped offset weakness in the U.S., the drop in volumes highlights a concerning trend β consumers are cutting back, possibly due to higher prices and changing preferences. The companyβs brand reinvestments and cost cuts indicate management knows it must regain volume momentum.
π Analyst take:
PepsiCoβs results show resilience in pricing power and global diversification, but stagnating demand in core markets remains a red flag π¨. Margins are being maintained through pricing rather than volume β a strategy that has limits if inflation cools and consumers trade down.
π€ Leadership update:
CFO Jamie Caulfield will retire, with Steve Schmitt (from Walmart U.S.) stepping in on Nov 10 β potentially signaling a stronger focus on operational efficiency and cost management going forward.
π Outlook:
FY guidance unchanged: flat EPS in constant currency and low single-digit organic growth.
Long-term investors may still find value if PepsiCo successfully stabilizes its North American performance.
π¬ Our view:
PepsiCo remains a solid defensive play with global reach, but in the short term, the market may react cautiously to volume contraction and executive transition risk. For traders β expect sideways movement or mild correction unless next quarter shows a real volume rebound.... Show More
At 100 % increase in 13 years and buisness in decline its 100 % SELL... Show More
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