{"id":1971643,"date":"2023-07-13T07:42:02","date_gmt":"2023-07-13T11:42:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pepsico-lifts-annual-forecasts-again-on-price-hikes-steady-demand\/"},"modified":"2023-07-13T07:43:25","modified_gmt":"2023-07-13T11:43:25","slug":"pepsico-lifts-annual-forecasts-again-on-price-hikes-steady-demand","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pepsico-lifts-annual-forecasts-again-on-price-hikes-steady-demand\/","title":{"rendered":"PepsiCo raises annual forecasts once more due to price increases and stable demand."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpepsico-lifts-annual-forecasts-again-on-price-hikes-steady-demand%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1971643&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) &#8211; PepsiCo Inc Raises Revenue and Profit Forecasts, Driven by Strong Demand and Price Hikes<\/p>\n<p>Shares of PepsiCo Inc rose about 2% in premarket trading after the company beat second-quarter results and raised its annual revenue and profit forecasts for the second time.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Packaged food companies have hiked prices over the past two years to counter a jump in costs of everything from commodities such as sugar to transportation costs caused by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cnbc-host-confronts-pete-buttigieg-on-supply-chain-snags-high-tax-on-middle-class\/\" title=\"CNBC Host Confronts Pete Buttigieg On Supply Chain Snags, \u2018High Tax\u2019 On Middle Class\">supply chain snags<\/a> during the pandemic and worsened by Russia\u2019s invasion of Ukraine.<\/p>\n<p>Meanwhile, U.S. consumers have been spending on sodas and snacks from PepsiCo and rival Coca-Cola even as <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-to-leapfrog-u-s-as-worlds-biggest-economy-by-2028-think-tank\/\" title=\"China to leapfrog U.S. as world\u2019s biggest economy by 2028 \u2013 think tank\">rising interest rates<\/a> and food prices hammered non-essential spending. <\/p>\n<p>PepsiCo\u2019s average prices jumped 15% for the quarter ended June 17, while organic volume slipped 2.5%.<\/p>\n<p>Average price of 192 ounces of PepsiCo\u2019s soda in the U.S. rose to $8.68 in 2022 from $7.57 in 2021, according to NielsenIQ\u2019s data. It was $9.83 as of June 17 this year.<\/p>\n<p>Net revenue at PepsiCo\u2019s North America beverages unit, the company\u2019s largest business which houses 7UP and Gatorade, rose 10% in the second quarter benefiting from price hikes.<\/p>\n<p>But volumes slipped 4% in the unit, signaling consumers were becoming mindful about spending on sodas.<\/p>\n<p>Organic revenue at the company\u2019s Frito-Lay North America unit rose 14% and Quaker Foods saw a 2% increase.<\/p>\n<p>The company said it expects 2023 organic revenue to rise 10%, compared with prior forecast of an 8% increase.<\/p>\n<p>It <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pepsico-lifts-annual-forecasts-again-on-price-hikes-steady-demand\/\" title=\"PepsiCo raises annual forecasts once more due to price increases and stable demand.\">estimated annual core earnings<\/a> per share of $7.47, compared with earlier expectation of $7.27.<\/p>\n<p>Net revenue rose to $22.32 billion from $20.23 billion in the second quarter, compared with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/starbucks-beats-profit-estimates-despite-hit-to-china-business\/\" title=\"Starbucks beats profit estimates despite hit to China business\">analysts\u2019 average estimate<\/a> of $21.73 billion, according to Refinitiv data.<\/p>\n<p> (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Sriraj Kalluvila)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/pepsico-lifts-annual-forecasts\/attachment\/file-photo-pepsi-soda-is-shown-on-display-in-compton\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Landon Starbuck<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Jake Lang<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Brian Babin<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Becket Cook<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) &#8211; Britain&#8217;s Antitrust Regulator to Investigate Adobe&#8217;s $20 Billion Bid for Figma<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Josh Ye HONG KONG (Reuters) &#8211; China Introduces Measures to Regulate its Growing Artificial Intelligence Industry<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SHENZHEN, China (Reuters) &#8211; Huawei Technologies Earns $560 Million in Royalty Revenues in 2022<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BERLIN (Reuters) &#8211; Bosch to Invest $2.8 Billion in Hydrogen Fuel Cell Technology<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PepsiCo Inc raised its annual revenue and profit forecasts for the second time, relying on strong demand for snacks and beverages and price increases. Shares increased by 2% in premarket trading after the company exceeded second-quarter expectations. Packaged food companies have recently raised prices.<\/p>\n","protected":false},"author":66,"featured_media":1971644,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1971643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1971643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1971643"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1971643\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1971644"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1971643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1971643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1971643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}