PepsiCo rides on price increases to lift annual forecasts

Published by
Reuters

(Reuters) -PepsiCo Inc raised its annual revenue and profit forecasts on Wednesday, powered largely by the multiple price increases the soda and snack giant had made to cushion the impact of rising costs. The company’s shares rose 2.3% in premarket trading as it also trounced third-quarter revenue estimates. Consumers, wrestling with a relentless surge in inflation, are eating more at home than at restaurants as they cut back on discretionary spending. A trend that has benefited U.S. packaged food makers like PepsiCo that offer everything from snacks to sports drinks. Global packaged food make…

Read More

See also  Boeing is halting production of the embattled 737 MAX starting in January

Leave a Reply