Corporate Profiles - 2023 - 100

COMPANY overview
PepsiCo, Inc.
P
epsiCo, Inc. innovation in beverages will
continue into the new year.
The Purchase, NY-based company in
2023 rolled out a lemon lime soda called Starry.
Launched in both regular and zero-sugar varieties,
the beverage is geared toward Gen Z consumers
and will compete with The Coca-Cola
Co.'s Sprite.
In 2024 PepsiCo plans to extend its Gatorade
brand into the functional water segment
by launching Gatorade Water. The product will
feature alkaline water infused with electrolytes.
It will be designed to help support all-day hydration
for active people, according to PepsiCo.
Gatorade Water will be packaged in 100% recycled
plastic.
Investing in facilities, online capabilities and
Innovation coming in Gatorade; investment
comes in Frito-Lay distribution
fashion and dining.
PepsiCo and Walmart in July announced a
seven-year collaboration to pursue $120 million
worth of investments to help US and Canadian
farmers improve their soil health and water quality.
The collaboration will establish and scale financial,
agronomic and social programs, and it
seeks to accelerate the adoption of regenerative
agriculture on over 2 million acres of farmland.
The goal is to reduce greenhouse gas (GHG) emissions
by 4 million tonnes by 2030.
PepsiCo in August agreed to purchase $175
million of Instacart's Series A preferred convertible
stock. Instacart generated about $29 billion
of gross transaction value (GTV) in 2022, according
to an Aug. 25 filing with the US Securities
and Exchange Commission. GTV is defined
as the value of products sold based on prices
shown on Instacart, applicable taxes, deposits
and other local fees. The company had net income
of $428 million on total revenue of $2.55
billion in fiscal-year 2022.
Through the first half of the fiscal year PepsiCo
had net income of $4.68 billion, equal to $3.38
per share on the common stock, which was down
from $5.69 billion, or $4.09 per share, in the
same time of the previous year. Net revenues
increased to $40.17 billion from $36.43 billion.
PepsiCo raised its outlook for fiscal-year orChief
executive officer -
Ramon L. Laguarta
sustainability programs also took place during the
current calendar year.
In the Frito-Lay North American business, a
new $16 million distribution center opened in
Scott Depot, W.Va. The 70,000-square-foot distribution
center includes 35 loading docks and
is four times larger than the previous center in
Poca, W.Va.
PepsiCo in March unveiled a new logo and visual
identity system, the first update of the Pepsi
globe logo in 14 years. The new design will span
all physical and digital touchpoints, including
packaging, fountain and cooler equipment, fleet,
100 \ October 2023
ganic revenue growth to 10% from 8%.
" Our brands are stronger, " said Ramon L.
Laguarta, chief executive officer, in a July 13
earnings call to discuss second-quarter results.
" The perceived value of our products is better
than it was, and obviously, we've been able
to raise prices and consumers stay within our
brands. "
He added consumers were beginning to visit
dollar stores and club stores more often.
" I would say the (PepsiCo) commercial teams
have done a great job in minimizing elasticity, "
Mr. Laguarta said. " So going into the year, of
course, we were assuming a level of elasticity
that was more based on historical levels. I think
we've been positively surprised on the strength
of the brands in some markets. " CP
PepsiCo, Inc. net income
in millions
2022
$8,910
2021
$7,618
2020
$7,120
Source: PepsiCo, Inc.
PepsiCo, Inc. net revenue
in millions
2022
$86,392
2021
$79,474
2020
$70,372
Source: PepsiCo, Inc.
PepsiCo, Inc. share price
$195
$180
Sept. 15, 2023 =
$179.84
$165
HIGH =
May 12, 2023 = $193.40
LOW =
Oct. 7, 2022 = $157.32
$150
Sept. Nov.
2022
Jan.
2023
March M Julyay
Source: New York Stock Exchange
PEPSICO, INC.
Sept.
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Corporate Profiles

Corporate Profiles - 2023

Table of Contents for the Digital Edition of Corporate Profiles - 2023