Summary

Pepsico Misses

Pepsico (PEP) reported Quarter December 2024 earnings of $1.96 per share on revenue of $27.8 billion. The consensus earnings estimate was $1.95 per share on revenue of $27.9 billion. The Earnings Whisper number was $1.98 per share. Revenue fell 0.2% compared to the same quarter a year ago.

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world.

Earnings Release

PepsiCo Reports Fourth Quarter and Full-Year 2024 Results;

Provides 2025 Financial Outlook; Announces Annual Dividend Increase

Reported (GAAP) Fourth Quarter and Full-Year 2024 Results

PURCHASE, N.Y. - February 4, 2025 - PepsiCo, Inc. (NASDAQ: PEP) today reported results for the fourth quarter and full-year 2024.

“Our businesses remained resilient in 2024, despite subdued category performance trends in North America, the continued impacts related to a recall in our Quaker Foods North America division and business disruptions due to geopolitical tensions in certain international markets. Our enhanced multiyear productivity initiatives enabled us to invest in our businesses, and deliver improvements in our gross margin, operating margin expansion and EPS in 2024,” said Chairman and CEO Ramon Laguarta.

Laguarta continued, “Looking ahead to 2025, we will continue to build upon the successful expansion of our international business, while also taking actions to improve performance in North America. Our multiyear productivity initiatives will help fund disciplined commercial investments and aid our profitability. Therefore, we expect to deliver low-single-digit organic revenue growth and mid-single-digit core constant currency EPS growth in 2025. We also announced a 5 percent increase in our annualized dividend per share beginning with the June 2025 payment, representing our 53rd consecutive annual increase.”

For the full earnings release, please go here.