PepsiCo forecasts annual profit below expectations
Feb 4 (Reuters) - Pepsico PEP.O forecast annual profit below expectations and missed quarterly revenue estimates on Tuesday, as the Frito-Lay maker faces weakening demand for its sodas and snacks in the U.S., its largest market.
Americans are still paring back spending on sodas and salty snacks to save their dollars for essentials, forcing PepsiCo to tap promotions for volume growth after several quarters of slowdown wrought by price hikes.
The company expects a low-single digit increase for fiscal 2025 core earnings per share, compared with analysts' estimates of a 4.73% rise to $8.53 per share, according to data compiled by LSEG.
Its net revenue fell to $27.78 billion in the quarter from $27.85 billion a year earlier, while analysts had estimated $27.89 billion.
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