Since then, the business, co-founded by Allison Ellsworth and her husband Stephen, built what has become one of the more recognisable names in the growing market for ‘better-for-you’ sodas in the US. In 2024, the company generated annual sales of “north of $500m”, a Poppi spokesperson said.Poppi, formerly known as Mother Beverage, was set up in 2015 and, after receiving funding on US business reality TV show Shark Tank three years later, relaunched under its current brand in 2020.Among the deals announced i ...

克里希南在评价此次收购时表示："Poppi与我们短中长期饮料战略高度契合。其快速增长、强劲的消费 者互动以及差异化的功能定位，使其成为产品组合中极具活力的新成员。我们正借助百事的能力放大 Poppi的增长动能，并解锁新的增长空间——一切才刚开始。" 据了解，Poppi2018年以"Mother Beverage"品牌名问世，因在一档节目中获得CAVU Consumer Partners投 资而更名为Poppi。它所属的益生元汽水品类规模约4.4亿美元，是低糖饮料中增长最快的细分赛道，产 品含膳食纤维(益生元)、益生菌、果汁和苹果醋。自2020年以来，Poppi销售额每年翻三倍，2023年达到 1亿美元。分析师预计，到2030年益生元汽水市场将接近翻倍。 百事旗下年销售额超十亿美元的饮料品牌还包括百事可乐、轻怡百事、佳得乐、纯果乐、纯水乐、激 浪、SodaStream和Sierra Mist。 百事可乐(PEP.US)正雄心勃勃地将Poppi打造为下一个年销售额突破十亿美元的新锐品牌——这一战略 目标由百事高管拉姆.克里希南在近期活动中明确提出。克里希南还强调，百事近期推行的特许经营权 转让举措，将为Poppi ...

Core Viewpoint - PepsiCo is experiencing a challenging period, with stock performance declining for three consecutive years, leading to investor frustration [1][2] Group 1: Company Performance - The company has faced difficulties primarily in its food segment, with Frito-Lay and Quaker Oats reporting revenue and volume declines, particularly a 14% drop in Quaker's revenue and volume [5][10] - Despite these challenges, PepsiCo is implementing changes, such as promoting healthier snack options and launching new products like dye-free Cheetos and Doritos [7][8] - The beverage segment is also undergoing transformation, with the introduction of the world's first prebiotic cola and plans to reduce operating costs by 20% [8][10] Group 2: Future Outlook - Analysts predict a potential revenue growth of 3.4% year-over-year by 2026, which would be a significant achievement for the company [11] - Earnings per share are expected to rise from $8.11 this year to $8.58 next year, indicating a positive trend [11] - Investors will need to monitor sales and volume growth in both food and beverage sectors in the upcoming year to gauge the effectiveness of the company's turnaround efforts [10][12]

Core Insights - PepsiCo Inc. has experienced significant growth, with shares increasing by 3.8% in the past month, driven by strong business momentum across key segments [1][10] - The company reported healthy net revenue growth in Q3 2025, primarily due to the North America beverage business and demand for innovative products [1][10] - PepsiCo's performance has outpaced the broader Beverages – Soft Drinks industry and the Consumer Staples sector [3] Business Performance - The North America beverage segment has shown strong growth, particularly with Trademark Pepsi and innovations like Pepsi Zero Sugar and poppi [11] - International operations have maintained steady organic growth, with strong performance in key regions such as Latin America and Europe [12] - Cost-optimization initiatives have improved operating margins, contributing to overall performance [2][13] Competitive Positioning - PepsiCo's stock has outperformed competitors like Coca-Cola and Primo Brands, which have seen declines in the past month [7] - The current share price of $149.70 is 6.5% below its 52-week high, indicating potential for upside [8] - PepsiCo's P/E ratio of 16.92X is below the industry average and its major competitors, suggesting a potentially attractive valuation [18] Future Outlook - The Zacks Consensus Estimate for PepsiCo's 2025 EPS has increased slightly, while the estimate for 2026 has decreased [15] - The company is positioned for sustained organic growth and margin improvement through recent acquisitions and portfolio reshaping [14] - Despite near-term uncertainties, the company's fundamentals are gradually strengthening, making it a potential buy for investors [19][20]

Core Insights - PepsiCo Beverages North America (PBNA) is a crucial segment for PepsiCo, encompassing a wide range of beverage categories and contributing significantly to brand equity and profitability [1] Financial Performance - In Q3 2025, PBNA achieved 2% year-over-year organic revenue growth, despite a three-point volume decline due to the transition of its case-pack water business [2][9] - Trademark Pepsi saw volume and net revenue increases, driven by Pepsi Zero Sugar and effective marketing campaigns [2] - Retail sales for poppi grew over 50% year-to-date, while Propel is on track to exceed $1 billion in annual retail sales [3] Strategic Initiatives - PepsiCo is focusing on expanding zero-sugar offerings and scaling functional innovations, such as protein-infused beverages, while enhancing its presence in away-from-home channels [4] - The company has reduced over 35% of SKUs since 2022 to streamline operations and improve market execution [4][9] Margin Goals - PBNA is on a credible path to achieve its mid-teens operating margin target by 2026, supported by ongoing innovation and cost efficiency measures [5] - Execution risks remain, particularly concerning inflation and consumer price sensitivity, but current trends indicate significant progress [5] Competitive Landscape - Coca-Cola and Monster Beverage are also pursuing aggressive growth targets, with Coca-Cola showing strong organic revenue growth and Monster achieving 16.8% net sales growth [6][7] Valuation Metrics - PepsiCo shares have declined by 2.2% year-to-date, contrasting with the industry growth of 8.9% [8] - The forward price-to-earnings ratio for PepsiCo is 17.42X, below the industry average of 18.2X [10] Earnings Estimates - The Zacks Consensus Estimate for PepsiCo's 2025 earnings suggests a slight decline of 0.7%, while 2026 estimates indicate a growth of 5.9% [12]

Core Insights - PepsiCo has made significant acquisitions, including full ownership of Sabra, Obela, Siete Foods, and Poppi, marking a major diversification effort in its portfolio [1] - The company is undergoing a portfolio transformation and cost reduction strategy to enhance operations and respond to the growing demand for wellness and healthy snacks [2] - The consumer staples sector, including PepsiCo, has faced challenges due to rising living costs, inflation, and a weakening job market, leading to decreased foot traffic and demand for snacks and beverages [3][4] Company-Specific Summaries - **PepsiCo**: The company is focusing on diversifying its product offerings through acquisitions that do not overlap with its existing brands, aiming to adapt to changing consumer preferences [2][7] - **Procter & Gamble (P&G)**: P&G is demonstrating strong pricing power and modest earnings growth, with international markets helping to offset weaknesses in North America [8] - **Colgate-Palmolive**: Colgate is primarily focused on oral and home care products, maintaining a strong position in the toothpaste market, and has a high-margin pet nutrition segment [9][10][11] - **Kimberly-Clark**: The company is facing challenges following its acquisition of Kenvue, but it maintains strong brands in the diaper and tissue markets, which are resilient during economic downturns [12][14][15] - **Target**: Target is struggling to compete on price but is improving its in-store experience and e-commerce capabilities, still generating sufficient cash flow to support its dividend [16] Market Performance and Valuation - The consumer staples sector, including Dividend Kings like PepsiCo, P&G, and Colgate, has seen a decline in stock performance, with many companies trading at attractive valuations based on forward earnings projections [17][18] - Kimberly-Clark is noted for trading at a significant discount to its historical average, although this may change post-acquisition of Kenvue [18] - The current market conditions present a compelling opportunity for long-term investors to consider these Dividend Kings, particularly those with strong cash flow and dividend reliability [19]

Core Points - Carlsberg is investing £20 million ($40.1 million) in a new soft drinks canning line at its Rugby factory in the UK to significantly increase production capacity [1][2] - The new canning line will create over 30 permanent, full-time jobs, bringing the total number of employees at the Rugby site to more than 430 [2] - The Rugby facility will increase its production capacity from 560,000 to 610,000 canned soft drinks per hour, enabling the production of brands like Tango and Pepsi Max [1][3] Investment Strategy - This investment is part of Carlsberg's broader strategy to enhance its supply chain and production capabilities [2][3] - The total investment in the Rugby site over the past five years has exceeded £60 million [3] - The company is also focusing on operational efficiency and reducing carbon emissions, supported by a government grant for sustainability initiatives [4] Market Expansion - Carlsberg Britvic has signed an exclusive deal with an undisclosed retailer and is preparing to launch the US prebiotic soda brand Poppi in the UK within the next four months [5][6] - The new supply chain setup is expected to support the launch of Poppi, although it is not confirmed if the products will be produced locally or shipped from elsewhere [6]

Core Insights - PepsiCo reported third-quarter earnings that exceeded Wall Street expectations, with revenue of $23.94 billion and adjusted earnings per share of $2.29, surpassing forecasts of $23.85 billion and $2.27 respectively [1] - The North American beverage segment showed a 2% growth, marking the highest growth rate in nearly two years, which offset the ongoing slowdown in the food business [1] - The acquisition of the health soda brand Poppi contributed significantly to growth, with retail sales increasing over 50% year-over-year [1] Financial Performance - Total revenue for the quarter reached $23.94 billion, slightly above the expected $23.85 billion [1] - Adjusted earnings per share were reported at $2.29, exceeding the market expectation of $2.27 [1] - The North American beverage business achieved a 2% growth, counterbalancing a 3% decline in food sales [1][2] Regional Performance - The EMEA region experienced a revenue growth of 5.5%, while Latin America saw a 4% increase, helping to mitigate the weakness in North American food sales [2] - The company anticipates low single-digit organic revenue growth for 2025, with core constant currency earnings expected to remain flat compared to the previous year [2] Management Changes - PepsiCo announced a management change, with CFO Jamie Caulfield set to retire and Steve Schmitt appointed as the new CFO effective November 10 [2] - Darren Walker will also retire from the board, with the change effective November 19 [2] Strategic Focus - The company is expanding its portfolio to include healthier, high-protein, and portion-controlled products in response to changing consumer preferences [2] - PepsiCo is facing pressures from economic uncertainties and health policy impacts [2] Investor Pressure - Elliott Investment Management holds approximately $4 billion in PepsiCo shares and is urging the company to evaluate and streamline its snack product portfolio [3]

Core Insights - PepsiCo reported third-quarter results that exceeded Wall Street expectations for both revenue and earnings per share, with revenue at $23.94 billion and adjusted earnings per share at $2.29 [1] - The company is facing challenges in its US snacking business, which has seen a decline in food revenue by 3% [2] Financial Performance - Revenue for the quarter was $23.94 billion, slightly above the expected $23.85 billion, while adjusted earnings per share were $2.29, surpassing the forecast of $2.27 [1] - The beverage segment in North America grew by 2%, helping to offset the slowdown in the food business [2] Business Segments - The trademark Pepsi brand experienced growth in both volume and net revenue, with hydration products like Propel also showing strong performance [2] - The acquisition of Poppi for $1.95 billion has resulted in over a 50% increase in retail sales year-over-year [2] - The company reported a 5.5% revenue growth in its Europe, Middle East, and Africa business, and a 4% growth in Latin America [2] Strategic Challenges - The company is under pressure from activist investors, including Elliott Management, which has a $4 billion stake and is advocating for a turnaround [3] - PepsiCo's stock has declined nearly 8% year-to-date, contrasting with a 6% increase in rival Coca-Cola's stock [3] Future Outlook - The company reiterated its fiscal 2025 guidance, expecting low-single-digit organic revenue growth and core constant currency earnings per share to be approximately even with the prior year [4] Leadership Changes - CFO Jamie Caulfield will retire, with Steve Schmitt, formerly CFO of Walmart US, taking over the role effective November 10 [5] - Board member Darren Walker plans to leave the board on November 19 [5]

Core Insights - Dividend Kings are companies that have increased their dividends for at least 50 consecutive years, making them reliable long-term investments [1][13] - Many Dividend Kings currently offer above-average dividend yields, providing investors with significant passive income opportunities [2] Group 1: Consolidated Edison - Consolidated Edison has a 51-year streak of annual dividend increases, the longest among utilities in the S&P 500 [4] - The company provides electricity, natural gas, and steam to New York City, benefiting from stable demand and regulated rates, which contribute to resilient cash flows [5] - Consolidated Edison plans to invest approximately $38 billion in capital projects through 2029 to enhance system reliability and reduce carbon emissions, supporting an annual utility rate base growth of over 8% [6] Group 2: PepsiCo - PepsiCo has increased its dividend for 53 consecutive years, with a 7.5% compound annual growth rate over the past 15 years [7] - The company invests over 5% of its annual revenue into capital projects to enhance productivity and drive growth, aiming for 4%-6% organic revenue growth annually [8] - PepsiCo has made strategic acquisitions, such as the $1.7 billion purchase of Poppi in 2025, to transform its portfolio towards healthier options, which supports continued dividend increases [9] Group 3: Federal Realty Investment Trust - Federal Realty Investment Trust has a 58-year history of increasing dividends, the longest in the REIT industry [10] - The REIT focuses on high-quality retail properties in affluent suburban markets, driving strong demand for retail space [11] - Federal Realty consistently invests in property improvements and strategically sells lower-quality assets to acquire better locations, positioning itself for ongoing dividend growth [12]