Despite PepsiCo (PEP:NASDAQ) having twice beaten earnings forecasts this year, by an average of 8%, and twice raised its outlook, the shares have fallen close to their lowest level since January on concerns over pricing and its continued presence in Russia.

Although the firm raised its sales guidance in July and held out the prospect of further price hikes not affecting demand for its drinks and snacks, it is meeting growing resistance from governments and retailers.

In France, finance minister Bruno Le Maire has singled out PepsiCo, Nestle (NESN:SWX) and Unilever (ULVR) for not ‘cooperating’ in limiting price rises, and hypermarket giant Carrefour (CA:EPA) has stuck price warnings on each firm’s products in an attempt to ‘tell manufacturers to rethink their policy’.

Meanwhile, the Finnish government has withdrawn Pepsi from sale in its parliamentary restaurants due to the company’s continuing sales in Russia, where it quadrupled profits last year, generating negative publicity.

On 10 October the Harrison, New-York based firm is expected to post third-quarter earnings per share of $2.18 against $1.97 the previous year, on sales of $23.4 billion against $22 billion, when it reports on 10 October.

For the full year, the consensus expects earnings per share of $7.48, an increase of 10.2%, and sales of $92.2 billion, an increase of 6.7%.

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

6 October: Tilray

10 October: PepsiCo, AZZ

11 October: BlackRock, Applied Digital

12 October: Delta Air Lines, Walgreens Boots, Domino’s Pizza, Commercial Metals, Alcoa, Washington Federal, Smart Global

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