Discount retailer Target has appointed PepsiCo veteran Jim Lee as its new CFO, effective September 22. Lee brings extensive experience in finance and strategy to the role, and his appointment comes as Target prepares for the crucial holiday season. The move also underscores Target’s commitment to growth amidst economic uncertainty.
Celsius Holdings stock took a hit on Wednesday after the company revealed a significant drop in sales to PepsiCo during the current quarter. However, despite the news, analysts remain largely optimistic about the company’s future, with several maintaining their ‘Buy’ and ‘Overweight’ ratings. The stock has seen some recovery on Thursday, but it remains down year-to-date.
A federal judge ruled that PepsiCo can be sued for allegedly misleadingly marketing Gatorade protein bars as healthy, despite their high sugar content exceeding that of typical candy bars. The lawsuit claims these bars are ‘fortified junk food’ and accuses PepsiCo of violating consumer protection laws with deceptive marketing and labeling.
Indra Nooyi, the former CEO of Pepsico, is an inspiring Indian-born leader who has made significant contributions to the business world. After leading Pepsico for 12 years, she retired in 2018 and has since joined the boards of Amazon and Deutsche Bank. Nooyi’s success stems from her hard work, dedication, and dedication to mentorship. She is an advocate for gender equality and has been recognized as one of America’s richest self-made women. Her journey serves as an inspiration to aspiring leaders worldwide.
A recent study by Dalhousie University and global collaborators reveals that 56 companies are responsible for more than half of branded plastic pollution worldwide. The top four polluters are Coca-Cola (11%), PepsiCo (5%), Nestlé (3%), and Danone (2%). This study highlights the urgent need for greater transparency, accountability, and solutions to address the global plastic waste crisis.
Major U.S. stock indexes experienced gains on Tuesday, following encouraging corporate earnings reports. General Motors (GM) and Spotify led the rally with impressive financial results. Meanwhile, PepsiCo faced a decline due to weaker demand in the home market, despite positive international growth.
Stock markets experience a mix of gains and losses during midday trading. General Motors surpasses expectations and raises its forecast, while JetBlue lowers its projections, leading to a significant drop in its share price. PepsiCo reports strong earnings but maintains its full-year outlook. Several other companies, including GE Aerospace, Novartis, Cleveland-Cliffs, Nucor, Danaher, Spotify, Sherwin-Williams, Roblox, Sunnova Energy, LKQ, and MSCI, also witness fluctuations in their share prices.
PepsiCo CEO Ramon Laguarta expressed satisfaction with the company’s partnership with Celsius Holdings, highlighting its alignment with their long-term goals and its benefits for shareholders. The partnership is seen as a strategic move for PepsiCo to gain scale in the energy drink category, which is a rapidly growing and profitable segment. Laguarta emphasized the importance of the partnership for PepsiCo’s go-to-market strategy, particularly in channels where volume is crucial for economic viability. Despite a slight decline in PepsiCo’s stock price during late morning trading, analysts remain optimistic about the company’s future prospects, citing the positive earnings report and the dissipation of headwinds.
CNBC’s Jim Cramer provided his insights on the earnings reports of RTX, PepsiCo, Nucor, Novartis, and Cadence Design Systems.
Food and beverage giant PepsiCo (NASDAQ: PEP) reported mixed financial results for the first quarter of its 2024 fiscal year. While revenue and earnings per share (EPS) exceeded analysts’ expectations, the company missed on its operating and gross margins.
Total revenue increased by 2.3% year-on-year to $18.25 billion, slightly above the consensus estimate of $18.11 billion. Non-GAAP EPS came in at $1.61, surpassing the expected $1.52, marking a 6% beat.
Despite the revenue growth, PepsiCo’s sales volumes declined by 2% year-on-year, indicating a challenge in driving product demand. However, the company was able to offset this decline through price increases, resulting in organic revenue growth of 2.7%.
The company maintained its full-year guidance from the previous quarter, with full-year non-GAAP EPS guidance remaining in line with consensus estimates. PepsiCo’s stock price remained flat after the earnings announcement, currently trading at $175.11 per share.
