PepsiCo's Salty Snacks Post Third Straight Quarter of Volume Growth
PEP is trading near its 52-week low of $132.96 (6.4% above the low).
Summary
PepsiCo's North American salty snacks business delivered volume growth for the third consecutive quarter in Q2, outpacing the broader food and beverage market. The company gained volume share across potato chips, tortilla chips, and pretzels, with Doritos, Ruffles, and Miss Vickies all posting volume and net revenue gains. This follows yesterday's Q2 earnings beat and adds granularity on the snack segment's momentum. The foods unit now commands five of the ten largest permissible snack brands, underscoring its market dominance.
At the time of this announcement, PEP was trading at $141.50 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $194.8B. The 52-week trading range was $132.96 to $171.48. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.