PepsiCo reduced the annual sales forecast as its Q3 earnings dropped, with consumers in the USA limiting their expenses.

PepsiCo has revised its sales forecast downward for the year, citing weaker demand in major markets like the U.S. and China

PepsiCo lowered its organic revenue forecast for the year after U.S. consumers continued to pull back on its snacks and drinks.

PepsiCo is steering toward organic growth of around 1% for the year, a similar pace to the third quarter, as the fragile US consumer and events in the Middle East weigh. Chairman and CEO Ramon Laguarta emphasised today (8 October) he saw fiscal 2024 as a “year of normalisation” after three years of what he called “outsized” double-digit growth in snacks.