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PepsiCo Inc. (PEP+2.05%) has submitted its Form 10-K filing for the fiscal year ended December 28, 2024.
The filing details PepsiCo's financial performance, indicating a slight increase in net revenue to $91.854 billion from $91.471 billion in the previous year. Operating profit rose to $12.887 billion, up from $11.986 billion, reflecting effective net pricing and productivity savings.
PepsiCo's beverage and convenient food segments are organized into seven divisions, including Frito-Lay North America, Quaker Foods North America, and PepsiCo Beverages North America, among others. The company operates in over 200 countries and territories.
Net revenue for Frito-Lay North America decreased by 1%, primarily due to a decline in organic volume, while Quaker Foods North America saw a 14% decrease, impacted by a voluntary recall of certain products.
PepsiCo Beverages North America experienced a slight increase in net revenue by 0.5%, driven by effective net pricing despite a decline in organic volume.
Latin America and Europe divisions reported net revenue increases of 0.5% and 5%, respectively, with Europe benefiting from effective net pricing and organic volume growth.
The Africa, Middle East and South Asia division saw a 1% increase in net revenue, while the Asia Pacific, Australia and New Zealand and China region reported a 1% increase, driven by organic volume growth.
The company identified several risks, including commodity price fluctuations, foreign exchange rates, and interest rates, which are managed through various hedging strategies.
PepsiCo's liquidity and capital resources remain strong, with net cash provided by operating activities amounting to $12.507 billion. The company expects to return approximately $8.6 billion to shareholders in 2025 through dividends and share repurchases.
The filing also discusses PepsiCo's 2019 Multi-Year Productivity Plan, which has been expanded and extended through 2030, with expected pre-tax charges of approximately $6.15 billion.
PepsiCo's research and development efforts continue to focus on product innovation, sustainability, and digitalization to enhance consumer insights and operational efficiencies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PepsiCo Inc. annual 10-K report dated February 4, 2025. To report an error, please email earnings@qz.com.