Oct 8 (Reuters) – PepsiCo cut its annual core profit forecast on Thursday, as inflation-weary consumers pared spending on its snacks and beverages, particularly in North America, while higher input costs continued to pressure margins.
Consumer packaged goods makers such as PepsiCo, General Mills, McCormick and Conagra Brands are navigating a tricky environment where surging input costs are straining margins, while cautious spending amid rising gas prices is hurting demand.
The company expects fiscal 2026 core earnings per share after adjusting for currency fluctuations to rise 1% to 2%, compared with its prior forecast of low-end of 4% to 6% rise.
It also expects annual organic revenue to be up about 3%, compared with the prior forecast of between 2% and 4%.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Arun Koyyur)
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