🔹 Revenue: $22.73B (Est. $22.29B) 🟢; +1% YoY
🔹 Core EPS: $2.12 (Est. $2.03) 🟢; -7% YoY
🔹 Core Oper. Profit: $3.91B; -5% YoY
🔹 Organic Revenue Growth: +2.1% YoY
FY25 Guidance
🔹 Organic Revenue Growth: Low-single-digit %
🔹 Core Constant FX EPS: Flat YoY (~$8.16)
🔹 Core Annual Tax Rate: ~20%
🔹 FX Headwind Revised: -1.5ppts (vs. prior -3ppts)
Q2 Segment Highlights Organic Rev Growth)
🔹 PFNA (Frito-Lay, Quaker, etc.): -2% YoY
🔹 PBNA (Pepsi Beverages North America): +1% YoY
🔹 International Beverages Franchise: +5% YoY
🔹 EMEA: +7% YoY
🔹 LatAm Foods: +6% YoY
🔹 Asia Pacific Foods: Flat
Other Q2 Metrics:
🔸 GAAP Results Impacted by $1.86B non-cash impairment charges (Rockstar, Be & Cheery brands)
🔹 Operating Cash Flow (YTD): $996M vs. $1.32B YoY
🔹 CapEx: $1.51B
🔹 Total Cash Returns Expected in FY25: ~$8.6B
• $7.6B in Dividends
• $1.0B in Share Repurchases
CEO Commentary:
🔸 “Encouraged by acceleration in net revenue growth vs. Q1.”
🔸 “North America improved in key subcategories and channels.”
🔸 “International business continues to outperform.”
🔸 “We’re investing in innovation and cost optimization to drive profitable growth.”
🔸 “We remain confident in delivering our FY25 targets despite FX volatility.”
