PepsiCo’s quarterly earnings beat expectations, reporting a net income of $1.52 billion, or $1.11 per share, up from $1.3 billion, or 94 cents per share, last year. Adjusted earnings were $1.96 per share. However, net sales slightly decreased to $27.78 billion. The company’s organic revenue rose by 2.1%, but demand in North America continued to decline for the fifth consecutive quarter. Frito-Lay North America saw a 3% drop in volume, while the North American beverage unit reported a similar decline. Despite these challenges, Gatorade gained market share, and Mountain Dew Baja Blast hit $1 billion in annual sales. Quaker Foods North America faced a 6% volume drop due to a recall, but expects improvement in 2025. PepsiCo projects a low-single-digit increase in organic revenue and a mid-single-digit rise in core constant currency earnings per share for 2025.
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