PepsiCo Inc. (NASDAQ: PEP) reported fourth quarter 2023 earnings results today.
Net revenue remained relatively unchanged from the prior-year period at $27.8 billion. Organic revenues grew 4.5%.
Net income attributable to PepsiCo was $1.30 billion, or $0.94 per share, compared to $518 million, or $0.37 per share, last year. Core EPS amounted to $1.78.
Earnings beat estimates but revenue fell short.
For fiscal year 2024, the company expects at least a 4% increase in organic revenue and at least an 8% increase in core constant currency EPS.
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The stock dropped over 2% in premarket hours on Friday, following the announcement.
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