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The third-quarter 2024 earnings season is officially underway, with major companies set to report their financial results this week. PepsiCo kicked off the season by reporting an adjusted EPS of $2.31, slightly above estimates of $2.30, but its revenue of $23.32 billion fell short of the expected $23.80 billion. The company also lowered its annual sales forecast due to weaker demand in North America. Other notable companies reporting this week include JPMorgan Chase, Wells Fargo, BlackRock, Delta Air Lines, Domino's Pizza, Bank of New York Mellon, and Fastenal. Key economic data releases this week include the U.S. CPI and PPI inflation data, and the FOMC meeting minutes.
🥤📉 PepsiCo surprises with quarterly revenue drop, lowers sales outlook as North American demand weakens Tickers of interest: $PEP Full Story → https://t.co/FbtkxSnHnc https://t.co/trOT8g7Bi4
$PEP | PepsiCo Q3 '24 Earnings Highlights: 🔹 Core EPS: $2.31 (Est. $2.29) 🟢 🔹 Revenue: $23.32B (Est. $23.9B) 🔴 🔹 Organic Revenue Growth: +1.3% FY'24 Guidance: 🔹 Organic Rev. Growth: Low-single-digit increase (Prev. approx. 4%) 😕 — Softer demand in North America for… https://t.co/VGPUaWij3H
$PEP | PepsiCo Q3 24 Earnings: - Adj EPS $2.31 (est $2.30) - Revenue $23.32B (est $23.80B) - Organic Rev +1.3% (est +3%) - Still Sees FY Core EPS At Least $8.15 (est $8.14)