PepsiCo (PEP) reported declining third-quarter revenue and profit, and again lowered its full-year sales outlook, as the beverage and snack giant said inflation has continued to impact consumer spending.

The company reported $23.32 billion in revenue, down slightly from the same time last year and below what 澳洲幸运5官方开奖结果体彩网:analysts had expected. PepsiCo's $2.93 billion in 澳洲幸运5官方开奖结果体彩网:net income also fell year-over-year and mi🐼ssed consensus estimates of analysts polled by Visible Alpha.

Sales improved 0.2% in the company's North American beverages segment and 6.5% in its operations in Europe, but declined in all other regions, as company leadership noted "the cumulative effects of inflationary pressures continue to impact budgets and spending patterns."

PepsiCo Lowers FY Sales Outlook for Second Time

For the 澳洲幸运5官方开奖结果体彩网:second straight quarter, PepsiCo lowered its full-year organic sales outlook, now projecting "a low-single-digit increase" ♌from approximately 4% growth, which itself was down from a prior estimate of "at least 4%."

PepsiCo shares, which were 1.6% lower on the year through Monday's close, were down a further 0.7% about 45 minutes before the opening bell.