PepsiCo Snacks, Beverages Propel Fiscal 2020 Revenue

concluded fiscal 2020 with strong results, reporting net revenue up 4.8% to $70.37 billion, driven by acceleration in its global beverage business and resilience in its global snacks and food business, as stated by Chairman and CEO Ramon L. Laguarta. For the year ended December 26, 2020, net income attributable to PepsiCo was $7.12 billion, a 2.7% decrease from $7.31 billion in fiscal 2019, while adjusted net income was $7.69 billion.

Fourth-quarter net revenue advanced 8.8% to $22.46 billion. Frito-Lay North America's operating profit increased 1.6% to $5.34 billion, with segment revenue growing 6.5% to $18.19 billion, fueled by strong innovation and e-commerce investments, including double-digit growth for Tostitos and Cheetos.

Quaker Foods North America's operating profit surged 23% to $669 million, with sales up 10% to $2.74 billion, driven by elevated at-home demand. PepsiCo Beverages North America's operating profit declined 11% to $1.94 billion, but segment revenue grew 3.8% to $22.56 billion, with brands like bubly and Starbucks achieving double-digit growth.

PepsiCo plans to expand its energy drink market presence through Rockstar relaunches, new Mountain Dew energy products, and continued innovation with Starbucks.