By Dean Seal


PepsiCo recorded a higher quarterly profit despite a small drop in revenue as volumes in its main North American segments declined.

The Purchase, N.Y., snacks and soda maker posted fourth-quarter net income of $1.52 billion, or $1.11 a share, for the quarter ended Dec. 28. That is up from $1.3 billion, or 94 cents a share, in the same quarter a year before.

Stripping out one-time items, adjusted earnings were $1.96 a share. Analysts polled by FactSet had expected $1.94 a share.

Revenue declined slightly year-over-year to $27.78 billion, below analyst forecasts for $27.89 billion, according to FactSet.

Foreign currency translation weighed on the top line, which was up 2.1% on an organic basis.

Volumes were down in the company's Frito-Lay and Quaker Foods segments in North America, and flat for its North American beverages business and Latin America segment. Volumes were higher in its other international markets.

For fiscal 2025, PepsiCo said it expects revenue to rise by a low-single-digit percentage, and a mid-single-digit percentage rise in core, constant-currency earnings per share.

The company also said it planned to raise its annualized dividend by 5% to $5.69 a share later this year.

Shares slid 2.3% to $146.83 in premarket trading.


Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

02-04-25 0657ET