PepsiCo Inc., Purchase, N.Y., reported results for the second quarter 2019.
For the second quarter, the company recorded 2.2 percent growth for net revenue, just shy of $16.5 billion, while year-to-date net revenue growth stands at 2.4 percent, which is approximately $29.3 billion. Additionally, organic revenue growth was 4.5 percent, while year-to-date organic revenue growth currently is at 4.8 percent, the company reports.
“We are pleased with our results for the second quarter,” said Chairman and Chief Executive Officer Ramon Laguarta in a statement. “While adverse foreign exchange translation negatively impacted our reported net revenue performance, our organic revenue growth was 4.5 percent in the quarter. We are also pleased with the progress on our priorities to make PepsiCo a faster, stronger and better company by building new capabilities, strengthening our brands, adding capacity to grow and transforming our culture. Our performance for the first half and the progress we are making on our strategic priorities give us increased confidence in achieving the 2019 financial targets we communicated earlier this year.”
For its PepsiCo Beverages North America division, second quarter net revenue was $5.3 billion, while year-to-date the division has recorded $9.8 billion.
Consistent with its previous guidance for 2019, the company continues to expect full-year organic revenue growth to be 4 percent.