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

Key Takeaways PepsiCo reported declining third-quarter revenue and profit as the beverage and snack giant said inflation has continued to impact consumer spending. The company again lowered its sales outlook for the year, expecting a low-single-digit sales bump from fiscal 2023, down from an estimated 4% gain previously. Company leadership said that inflation continues "to impact budgets and spending patterns." PepsiCo (PEP) reported declining third-quarter revenue and profit, and again lowered its full-yea ...