Photo: ©MASHKA – STOCK.ADOBE.COM PURCHASE, NY. — After managing inflation in fiscal year 2022, PepsiCo, Inc. will prepare for a similar scenario this year, albeit with plans for a possible recession in the second half of 2023. Net income attributable to Purchase-based PepsiCo was $8.91 billion, or $6.4 per share on the common stock, in the fiscal year ended Dec. 31, 2022, which was up 17% from $7.62 billion, or $5.49 per share, in the previous fiscal year. Revenue increased 9% to $86.39 billion from $79.47 billion. Organic revenue growth was 14%. Modernizing and harmonizing the company’s IT systems across certain businesses and countries and expanding the global business services initiatives helped PepsiCo deliver more than $1 billion in productivity savings in 2022. Company executives expect inflationary pressures to persist in 2023 and forecast 6% organic revenue growth for the year. “The way we feel about the consumer is based on employment data and wage growth around the world (that) is positive,” said Ramon L. Laguarta, chief executive officer, in a Feb. 9 earnings call. “In our assumption for the year, we’re thinking elasticities might get worse going into the second half of the year based on multiple scenarios […]
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