#PepsiCoEarnings #SustainabilityInBusiness #DigitalTransformation
PepsiCo (PEP) Reports Strong Q2 2024 Earnings
PepsiCo, the multinational food and beverage corporation, has announced its Q2 2024 earnings, showcasing a strong performance across its various segments. The company reported a revenue of $19.45 billion, a 10.3% increase from the same period last year. This growth was driven by a 12% rise in organic revenue, which excludes the impact of currency fluctuations and acquisitions.
Key Highlights
- Strong Performance in Beverages: PepsiCo's beverage segment saw a 13% increase in organic revenue, driven by the continued success of its low-calorie and zero-sugar products. The company's popular brands, such as Gatorade and Tropicana, contributed significantly to this growth.
- Food Segment Growth: The food segment, which includes brands like Lay's and Doritos, reported a 10% increase in organic revenue. This was largely due to the company's focus on innovation and expanding its product offerings.
- Digital Transformation: PepsiCo has been investing heavily in digital transformation, which has led to significant improvements in its e-commerce capabilities. The company reported a 25% increase in e-commerce sales during the quarter.
- Sustainability Efforts: PepsiCo has made significant strides in its sustainability efforts, aiming to reduce its carbon footprint and increase the use of renewable energy. The company has set a goal to make 100% of its packaging recyclable, compostable, or biodegradable by 2025.
Financial Performance
- Net Revenue: $19.45 billion (10.3% increase from Q2 2023)
- Organic Revenue: 12% increase
- Earnings Per Share (EPS): $1.83 (14% increase from Q2 2023)
Outlook
PepsiCo has maintained its full-year guidance, expecting a 6% increase in organic revenue and a 10% increase in EPS. The company remains confident in its ability to drive growth through innovation, digital transformation, and sustainability initiatives.
Original Article: https://www.cnbc.com/2024/07/11/pepsico-pep-earnings-q2-2024-earnings.html
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