Pepsico Result

PepsiCo closing 4 US bottling plants, cutting 400 jobs to streamline ops

PepsiCo said Wednesday it plans to close four US bottling plants and lay off nearly 400 workers as part of its efforts to streamline its operations. The company said the closures will impact 136 workers in Cincinnati; 131 in Chicago; 127 in Harrisburg, Pennsylvania; and fewer than 50 in Atlanta. The Chicago plant is the only one that will fully close. PepsiCo confirmed that closure earlier this week. The company said sales, delivery and warehouse functions will continue at the other three locations. Earlier this month, PepsiCo lowered its sales forecast for the year as consumers in the US, China and elsewhere pulled back on buying its drinks and snacks after years of price hikes. PepsiCo's North American beverage sales fell 3 per cent in both the second and third quarters of this year. PepsiCo's net income fell 5 per cent to USD 2.9 billion in the July-September period. The company has repeatedly said it is sharply focused on efficiency and productivity gains. PepsiCo, which is ba

PepsiCo profits jump in June quarter; net income rises 12% to $3 bn

PepsiCo reported higher-than-expected earnings in the second quarter even as customer demand for its snacks and drinks continued to slip. The Purchase, New York-based company said its net income rose 12% to $3 billion, or an adjusted $2.28 per share, for the April-June period. Wall Street had expected earnings of $2.16 per share. PepsiCo said its revenue grew less than 1% to $22.5 billion. That was slightly lower than the $22.59 analysts forecast. PepsiCo has leaned heavily into price increases over the past two years as its costs for ingredients and packaging rose. The fourth quarter of 2023 was the company's eighth straight quarter of double-digit percentage price increases. Prices rose 5% in the first quarter and 3% in the most recent quarter. But those higher prices have hurt demand. PepsiCo's global sales volumes have fallen for the last eight quarters. The company says some of that volume decline is strategic, since it has been shrinking package sizes. But it has also says ..

PepsiCo rolls out new globe logo in India as part of rebranding exercise

Global beverages major Pepsi on Friday rolled out its new logo worldwide as part of its rebranding exercise. This is the first visual identity change by Pepsi in the last 14 years, according to a statement by the American beverage major. As part of this, the new Pepsi globe logo was unleashed at Gateway of India in Mumbai, where it took over the monument with a digital artwork, it added. "The new logo thoughtfully borrows equity from Pepsi's past, whilst incorporating modern elements to create a look that is unapologetically current and undeniably Pepsi. The updated colour palette introduces electric blue and black to bring a contemporary edge to the classic Pepsi colour scheme," it said. The signature Pepsi pulse evokes the "ripple, pop and fizz" of Pepsi-Cola moving in time, it said. "The fresh design language reflects the invigorating spirit of Indian youth and their boundless pursuit of possibilities," Shailja Joshi, Category Lead, Pepsi Cola, PepsiCo India, said.

PepsiCo misses revenue estimates as multiple price hikes dent demand

PepsiCo and other retailers are now facing some resistance to the multiple price hikes undertaken since the pandemic to fend off higher costs caused by supply chain disruptions

PepsiCo sees high single-digit organic revenue growth in June quarter

Volumes declined in foods and it reporte low-single digit growth in beverages

Varun Beverages profit jumps two-fold to Rs 81.5 crore, revenue up 27.9%

Varun Beverages Ltd, PepsiCo's largest franchise bottler, on Monday reported a more than twofold jump in its consolidated net profit to Rs 81.52 crore for the quarter that ended December 31, 2022, led by volume growth and improved net realizations. The company, which follows the calendar year as its financial year, posted a net profit of Rs 32.59 crore during the October-December quarter a year ago. Its revenue from operations during the quarter under review stood at Rs 2,257.20 crore, up 27.89 per cent as against Rs 1,764.93 crore of the corresponding period last fiscal, Varun Beverages Ltd (VBL) said in a regulatory filing. VBL's "sales volumes grew by 17.8 per cent in Q4 CY2022 to 132.0 million cases," said the company in its earning statement. Its PAT increased 150 per cent in the October-December period, which is a "seasonally weak quarter". Its "net realization increased by 6 per cent to Rs 164 primarily due to price hike in select SKUs, rationalised discounts/incentives, an

PepsiCo's India revenue & volume grew in double-digits in 3 mths to June 11

PepsiCo India has also been gaining market share in India since the start of 2022.

PepsiCo's India business logs single-digit growth in December quarter

When compared with some of its other markets like Brazil, the India business of PepsiCo remained below par

PepsiCo sees strong annual profit as snacks, sodas thrive in pandemic

Sales of snacks under the company's Frito-Lay North America unit, rose 7% in the quarter

PepsiCo's results beat analysts' estimates as lockdowns boost snack sales

For PepsiCo, sales of snacks under the Frito-Lay North America unit rose 7% in the second quarter ended June 13, while Quaker Oats surged 23%

PepsiCo net profit up 5% to $2.11 bn on better soda prices, stake sale

Total revenue rose 2.1 per cent to $15.71 billion