PepsiCo Shares Fall as Higher Costs Overshadow Beverage Rebound
- Company warns of lower full-year core earnings on currencies
- Higher aluminum, transportation costs erode operating profit
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Indra Nooyi managed to return PepsiCo Inc.’s key drinks business to growth in her final quarter leading the company, but it wasn’t enough to satisfy investors.
Shares of the snack and beverage maker slid on Tuesday after the company cut its full-year profit forecast and said it had no plans to invest in cannabis. PepsiCo also reported higher transportation and aluminum costs and said it would raise prices on snacks and drinks.