PepsiCo lifts profit targets again, demand resilient
PepsiCo has upped its annual profit forecast for a third time this year. IGTV financial analyst @AngelineOng takes a look at how the consumer goods firm is able to pass on rising costs, amid a tough consumer environment.
PepsiCo pushes through cost-of-living crisis
PepsiCo's third-quarter profit has 'beat the street', lifting its annual profit forecast a third time this year. Net sales also rose nearly 7%.
Much of this is down to the fact that PepsiCo has bravely raised its prices and so far has managed to push it through despite the cost-of-living crisis, despite many households under pressure given high interest rates.
Snack products still seem to be affordable
But it's seen that companies like PepsiCo, with brands that potentially could give these inflation-wary customers a bit of affordable luxury, will continue to do well. PepsiCo owns brands like Miranda and Gatorade, and also they sell everything from Doritos to Cheetos.
The Frito-Lay North America subsidiary of PepsiCo reported a 7% jump in organic revenue increase, while volumes only fell marginally.
Find out how to buy Birkenstock shares when they launch on the NASDAQ this Wednesday.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
