PepsiCo For FY24 Now Sees A Low-Single-Digit Increase In Organic Revenue (Prior ~4% Organic); Reaffirms Adj. EPS Outlook Of At Least $8.15 In line With $8.15 Estimate
Portfolio Pulse from Benzinga Newsdesk
PepsiCo has adjusted its FY24 guidance, now expecting a low-single-digit increase in organic revenue, down from a prior estimate of ~4%. The company reaffirms its adjusted EPS outlook of at least $8.15, aligning with estimates. PepsiCo anticipates an 8% increase in core constant currency EPS and plans to return $8.2 billion to shareholders through dividends and share repurchases.
October 08, 2024 | 10:08 am
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PepsiCo has revised its FY24 guidance, now expecting a low-single-digit increase in organic revenue, down from a previous estimate of ~4%. The company reaffirms its adjusted EPS outlook of at least $8.15, aligning with estimates. PepsiCo plans to return $8.2 billion to shareholders through dividends and share repurchases.
The revision in organic revenue growth from ~4% to a low-single-digit increase may be seen as a slight negative, but the reaffirmation of the EPS outlook and significant shareholder returns could offset this. The overall impact on the stock price is likely neutral in the short term.
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