PepsiCo Files 10-Q for Period Ending June 15, 2024

TL;DR

PepsiCo's Q2 2024 10-Q is in! Financials updated, check it out.

AI Summary

PepsiCo Inc. filed its 10-Q for the period ending June 15, 2024, reporting financial results. The company's fiscal year ends on December 28. Key financial data points such as Selling, General & Administrative Expense and shares outstanding are included in the filing.

Why It Matters

This filing provides investors with an update on PepsiCo's financial performance and position as of mid-2024, crucial for understanding the company's ongoing operations and market standing.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing from a large, established company, not indicating any unusual or immediate risks.

Key Numbers

• 3,600 — Selling, General & Administrative Expense (Reported for the period ending June 15, 2024)
• 1,374 — Shares Outstanding (Reported as of June 15, 2024)
• 493 — Net Income (Reported for the period ending June 15, 2024)
• 84 — Number of Documents (Total documents in the filing)

Key Players & Entities

• PEPSICO INC (company) — Filer
• 20240615 (date) — Period of Report
• 700 ANDERSON HILL RD (address) — Business Address
• PURCHASE (city) — Business Address City
• NY (state) — Business Address State
• 10577 (zip_code) — Business Address Zip
• 9142532000 (phone_number) — Business Phone
• 2023-12-31 (date) — Previous Fiscal Year End
• 2024-06-15 (date) — Current Fiscal Quarter End

FAQ

Filing Documents

• pep-20240615.htm (10-Q) — 2241KB
• pep-20240615_g1.jpg (GRAPHIC) — 78KB
• exhibit15-q22024.htm (EX-15) — 15KB
• exhibit22-q22024.htm (EX-22) — 3KB
• exhibit31-q22024.htm (EX-31) — 20KB
• exhibit32-q22024.htm (EX-32) — 9KB
• 0000077476-24-000042.txt ( ) — 11315KB
• pep-20240615.xsd (EX-101.SCH) — 65KB
• pep-20240615_cal.xml (EX-101.CAL) — 102KB
• pep-20240615_def.xml (EX-101.DEF) — 383KB
• pep-20240615_lab.xml (EX-101.LAB) — 772KB
• pep-20240615_pre.xml (EX-101.PRE) — 598KB
• pep-20240615_htm.xml (XML) — 2160KB

Financial Information

Part I Financial Information

Condensed Consolidated Financial Statements 2

Item 1. Condensed Consolidated Financial Statements 2 Condensed Consolidated Statement of Income – 12 and 24 Weeks Ended June 15 , 2024 and June 17 , 2023 2 Condensed Consolidated Statement of Comprehensive Income – 12 and 24 Weeks Ended June 15 , 2024 and June 17 , 2023 3 Condensed Consolidated Statement of Cash Flows – 2 4 Weeks Ended June 15 , 2024 and June 17 , 2023 4 Condensed Consolidated Balance Sheet – June 15 , 2024 and December 30, 2023 6 Condensed Consolidated Statement of Equity – 12 and 24 Weeks Ended June 15 , 2024 and June 17 , 2023 7 Notes to the Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Report of Independent Registered Public Accounting Firm 44

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 45

Controls and Procedures

Item 4. Controls and Procedures 45

Other Information

Part II Other Information

Legal Proceedings

Item 1. Legal Proceedings 46

Risk Factors

Item 1A. Risk Factors 46

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46

Other Information

Item 5. Other Information 47

Exhibits

Item 6. Exhibits 47 1 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

ITEM 1. Condensed Consolidated Financial Statements. Condensed Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries (in millions except per share amounts, unaudited) 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Net Revenue $ 22,501 $ 22,322 $ 40,751 $ 40,168 Cost of sales 9,919 10,121 18,167 18,109 Gross profit 12,582 12,201 22,584 22,059 Selling, general and administrative expenses 8,534 8,542 15,819 15,771 Operating Profit 4,048 3,659 6,765 6,288 Other pension and retiree medical benefits income 56 60 114 121 Net interest expense and other ( 234 ) ( 201 ) ( 436 ) ( 401 ) Income before income taxes 3,870 3,518 6,443 6,008 Provision for income taxes 776 747 1,296 1,293 Net income 3,094 2,771 5,147 4,715 Less: Net income attributable to noncontrolling interests 11 23 22 35 Net Income Attributable to PepsiCo $ 3,083 $ 2,748 $ 5,125 $ 4,680 Net Income Attributable to PepsiCo per Common Share Basic $ 2.24 $ 1.99 $ 3.73 $ 3.40 Diluted $ 2.23 $ 1.99 $ 3.71 $ 3.38 Weighted-average common shares outstanding Basic 1,375 1,378 1,375 1,378 Diluted 1,379 1,384 1,380 1,384 See accompanying notes to the condensed consolidated financial statements. 2 Table of Contents Condensed Consolidated Statement of Comprehensive Income PepsiCo, Inc. and Subsidiaries (in millions, unaudited) 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Net income $ 3,094 $ 2,771 $ 5,147 $ 4,715 Other comprehensive loss, net of taxes: Net currency translation adjustment ( 267 ) ( 198 ) ( 449 ) ( 433 ) Net change on cash flow hedges 42 24 45 ( 35 ) Net pension and retiree medical adjustments 9 ( 6 ) 20 ( 10 ) Net change on available-for-sale debt securities and other ( 391 ) 1 132 — ( 607 ) ( 179 ) ( 252 ) ( 478 ) Comprehensive income 2,487 2,592 4,895 4,237 Less: Comprehensive income attributable to noncontrolling interests 11 23 22 35 Comprehensive Income Attributable to PepsiCo $ 2,476 $ 2,569 $ 4,

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View this 10-Q filing on SEC EDGAR