PepsiCo's non-GAAP EPS of $2.28 was higher than $0.12, and sales of $22.5 billion fell short of 0.1 billion dollars

PepsiCo Press Release (NASDAQ: PEP): Second quarter non-GAAP EPS of $2.28 is above $0.12.

Sales of 22.5 billion dollars (up 0.8% from the same period last year) fell short of 0.1 billion dollars.

The outlook for 2024

The sales growth rate of existing businesses is approximately 4% (previously at least 4%).

Additionally, we continue to anticipate:

Core EPS based on constant exchange rate increased by at least 8%;

Core annual effective tax rate of 20%;

Shareholder returns totaling approximately $8.2 billion, consisting of dividends of 7.2 billion dollars and share repurchases of 1 billion dollars.

Exchange rate headwinds of approximately 1 percentage point affecting reported net revenue and core EPS growth based on current market consensus rates. Based on this assumption and the above guidance, the core EPS in 2024 will be at least $8.15, an increase of 7% from the 2023 core EPS of $7.62.