PepsiCo Posts Weaker-Than-Expected Results, Cuts FY Sales Outlook Again

Core Insights - PepsiCo reported a decline in third-quarter revenue and profit, attributing this to ongoing inflation impacting consumer spending [1][2] - The company has lowered its full-year sales outlook for the second consecutive quarter, now expecting a low-single-digit sales increase, down from a previous estimate of approximately 4% growth [1][3] Financial Performance - The company reported revenue of $23.32 billion, a slight decrease from the same period last year and below analyst expectations [2] - Net income for the quarter was $2.93 billion, which also fell year-over-year and missed consensus estimates [2] Regional Performance - Sales in the North American beverages segment improved by 0.2%, while operations in Europe saw a 6.5% increase [3] - However, sales declined in all other regions, with company leadership noting that cumulative inflationary pressures are affecting budgets and spending patterns [3]