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Story summary
- PepsiCo announced single-digit price hikes on several snacks and sodas after a weak third-quarter performance.
- The hikes will keep prices below their start-of-year levels despite the increase.
- PepsiCo used a $178 million tariff refund for the quarter, which will not be available later.
- Net revenue rose 5.6% to $25.27 billion, net income 17% to $3.07 billion, beating estimates.
- PepsiCo cut its full-year EPS growth outlook to 2.5-3.5% and sees revenue up 6%.