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PepsiCo lowers revenue forecast as sales growth weakens
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FILE - Gatorade containers are shown on the sideline prior to an NFL preseason football game between the Jacksonville Jaguars and Atlanta Falcons, Aug. 23, 2024, in Atlanta. - photo by AP Photo/Stew Milne, File
PepsiCo lowered its organic revenue forecast for the year after U.S. consumers continued to pull back on buying its snacks and drinks. The company, based in Purchase, New York, said Tuesday it now expects its organic revenue -- which is adjusted for foreign currency exchanges and the impact of product acquisitions or divestments – to increase in the low single-digit range for the year. It had expected an increase of 4%.