PepsiCo Doubles Down on Turnaround Strategy as Gas Prices Pressure Consumers

PepsiCo doubles down on turnaround strategy as gas prices pressure consumers

PepsiCo says it will stick with its North America turnaround strategy despite softer Q2 results, blaming higher gas prices and weaker U.S. consumers rather than execution.

PepsiCo misses earnings estimates as consumers cut back spending

PepsiCo reported mixed second-quarter results, missing earnings estimates as tightening US consumer budgets led to weaker domestic demand for its food and beverage products. By the numbers: Adjusted earnings per share were $2.20, slightly below the $2.21 expected by analysts. Revenue came in at $24.18 billion, topping expectations of $23.95 billion, with net sales rising 6.4% year-over-year. Net income attributable to PepsiCo was $2.98 billion …