PEP - Coca Cola's Latest Results Show US Consumers Are Resilient But Picky | Benzinga
The latest earnings reports from Coca Cola Company (NYSE: KO) and Pepsi Co (NASDAQ: PEP) reflected a resilientUS consumer, however with changing habits. As for Coca Cola, its earnings were in line with analyst estimates while sales surpassed analyst expectations.
Pepsi Is Facing A Slowdown Across Categories
Pepsi reported its North America sales slipped about 3.5% during the last quarter of 2023 as consumers were put off by higher prices. In addition to falling North America sales, global revenues were down 0.5% YoY to $27.85 billion. In response, Pepsi lowered its guidance but remained optimistic about 2024 due to optimizing its portfolio by no longer selling unprofitable brands.
Coca Cola’s Fourth Quarter Highlights
For the three months ended on December 31st, Coca Cola reported that revenue grew 7% to $10.85 billion, surpassing LSEG’s estimate of $10.68 billion. Fourth quarter ...