PEPSICO CUTS CORE EPS GUIDANCE AGAIN

PepsiCo cut its full-year core EPS guidance for the second consecutive quarter, now projecting growth of only 2.5% to 3.5%, down from a prior low end of 5% to 7%. The company blamed rising input cost inflation and unveiled new structural cost-reduction actions. Third-quarter net revenue still grew 5.6% to $25.27 billion. $PEP enters the fourth quarter with its profit outlook cut twice in a row.