{"id":10478,"date":"2023-04-25T15:49:22","date_gmt":"2023-04-25T13:49:22","guid":{"rendered":"https:\/\/investmentbell.com\/?p=10478"},"modified":"2023-04-25T15:49:28","modified_gmt":"2023-04-25T13:49:28","slug":"pepsico-raises-annual-forecasts-on-buoyant-demand-price-hikes","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/sv\/news\/market-overview-news\/pepsico-raises-annual-forecasts-on-buoyant-demand-price-hikes\/","title":{"rendered":"PepsiCo raises annual forecasts on buoyant demand, price hikes"},"content":{"rendered":"<p>By Ananya Mariam Rajesh<\/p>\n\n\n\n<p>(Reuters) -PepsiCo Inc raised its annual forecasts on Tuesday after price hikes undertaken to offset higher costs and steady demand helped the soda and snack giant beat first-quarter results.<\/p>\n\n\n\n<p>Global consumer goods companies have raised prices to battle sky-rocketing costs of everything from aluminum cans to labor and shipping since the supply-chain disruptions during the pandemic and aggravated by the Russia-Ukraine conflict.<\/p>\n\n\n\n<p>&#8220;We do not expect commodity prices to decrease for us, only the rate of inflation will get a little bit lighter during the course of the year,&#8221; Chief Financial Officer Hugh Johnston told Reuters.<\/p>\n\n\n\n<p>Meanwhile, the Frito-Lay maker also plans to raise prices in some regions, in stark contrast to its decision earlier this year to hit a pause.<\/p>\n\n\n\n<p>Majority of the pricing is in place but &#8220;there are some markets, highly inflationary markets around the world, where we might have to take additional pricing,&#8221; CEO Ramon Laguarta said in an earnings call.<\/p>\n\n\n\n<p>Average prices jumped 16% in the first quarter, PepsiCo (NASDAQ:PEP) said, while organic volume slipped 2%.<\/p>\n\n\n\n<p>The company&#8217;s shares rose 2% in premarket trading as the results pointed to a resilient consumer and followed similar performances by Nestle earlier in the day and by rival Coca-Cola (NYSE:KO) on Monday.<\/p>\n\n\n\n<p>PepsiCo&#8217;s raised forecast at this stage in the year suggests &#8220;very deep confidence in what is going on in the snacking business and also the improvements on the beverage side,&#8221; said Markus Hansen, a portfolio manager at Vontobel Quality Growth,&nbsp;adding the company is historically very conservative.<\/p>\n\n\n\n<p>Sales in the North America beverage unit, PepsiCo&#8217;s largest business and which houses 7UP and Gatorade, rose 8% in the March quarter.<\/p>\n\n\n\n<p>PepsiCo said it expects 2023 organic revenue to rise 8%, compared with its prior forecast of a 6% increase. It sees annual core earnings per share of $7.27, compared with $7.20 earlier.<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost10478\"><\/span> <span id=\"rate-points\"> 0<\/span><\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost10478').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 0,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>By Ananya Mariam Rajesh (Reuters) -PepsiCo Inc raised its annual forecasts on Tuesday after price hikes undertaken to offset higher costs and steady demand helped the soda and snack giant beat first-quarter results. Global consumer goods companies have raised prices to battle sky-rocketing costs of everything from aluminum cans to labor and shipping since the [&hellip;]<\/p>","protected":false},"author":13,"featured_media":10479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":{"0":"post-10478","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-overview-news"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/posts\/10478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/comments?post=10478"}],"version-history":[{"count":0,"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/posts\/10478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/media\/10479"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/media?parent=10478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/categories?post=10478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/sv\/wp-json\/wp\/v2\/tags?post=10478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}