PEP Q3 Earnings Beat Estimates, Subdued Category Demand Hurt Sales

PepsiCo, Inc. (PEP) has reported robust third-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate and improved year over year. However, the company's top line missed the consensus mark and declined year over year. Top-line results have been mainly affected by subdued category demand in its convenient food business and the impacts of a product recall in the QFNA segment. PepsiCo's third-quarter core EPS of $2.31 beat the Zacks Consensus Estimate of $2.30 and increased 2.7% year over ...