BUZZ-PepsiCo down after weak annual profit forecast, Q4 revenue miss

Shares of Frito-Lay maker PepsiCo PEP.O down 2.2% at $146.90 premarket

Company forecasts annual profit below expectations and misses Q4 revenue estimates on weakening demand for its sodas and snacks such as Lay's in the U.S.

"We expect our North America performance to gradually improve as the year progresses, and our commercial activities take hold," executives say in the company's prepared remarks

PEP 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

Q4 net revenue fell 0.2% to $27.78 billion, missing estimates of $27.89 billion

In 2024, PEP shares fell 10.5%