PepsiCo’s third-quarter results delivered a mixed bag. On the headline numbers, the snack and beverage giant slightly beat Wall Street expectations – a welcome surprise given tempered forecasts. Core earnings per share of $2.29 edged past consensus, and net revenue of $23.9 billion marked modest growth seekingalpha.com. The company managed this top-line increase despite flat to declining volumes, thanks largely to higher pricing and strength outside the U.S. “Our reported net revenue growth accelerated and reflects the resilience of our international business [and] improved momentum within North America Beverages,” CEO Ramon Laguarta noted investors.pepsico.com. In fact, the PepsiCo Beverages North America unit eked out 2% organic sales growth in Q3 despite lower soda volumes, as brands like Pepsi Zero Sugar and Gatorade benefited from marketing pushes and new formulations.
