PepsiCo (PEP) shares slipped in intraday trading Thursday after the company delivered mixed second-quarter results and lowered its full-year organic growth outlook.

The 澳洲幸运5官方开奖结果体彩网:food and beverage giant posted adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.28 on revenue of $22.5 billion, compared with an analysts’ consensus estimates of adjusted EPS of $2.15 o💛n revenue of $22.6 billion. 

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Ramon Laguarta acknowledged a “subdued category pe🌺rformance within North America." PepsiCo’s Frito-Lay North America division saw volum🍰e decline 4% year-over-year, its North American beverage unit volume fall 3%, and its Quaker Foods North America volume dip 17%. 

'Consumers Have Become More Value-Conscious'

In prepared remarks, PepsiCo management discussed the impact of rising costs on consumers’ ability to spend.

"The impacts of persistent inflationary pressures and higher borrowing costs over the last few years have resulted in tighter household financial conditions,” the executives said. “Accordingly, the year-to-date performance across many food categories, including snacks, has been subdued and consumers have become more value-conscious with their spending patterns and preferences across brands, packages, and channels.”

Looking ahead, Pepsi now projects full-year organic revenue growth of about 4%, compared to its prior estimate of "at least 4%." The company continues to expect adjusted EPS of at least $8.15, which would be a 7% increase from 2023. 

Shareꦰs of PepsiCo slippeꦿd 1% to $162.03 as of 10:40 a.m. ET Thursday. They are down about 4.5% this year.